Philippines’ outperforming economy boosts case for rate hike


The skyline of a business district is seen from a commercial building in Ortigas, Pasig city, metro Manila. - Reuters

MANILA, May 14 (Bloomberg): The Philippine economy outperformed expectations in the first quarter, boosting the case for the central bank to turn its focus to fighting one of South-East Asia’s fastest inflation.

Gross domestic product in the three months through March grew 8.3% from a year ago, the Philippine Statistics Authority said Thursday, versus the median estimate for a 6.8% expansion in a Bloomberg survey. That compares with a revised 3.8% contraction in the same quarter in 2021.

Save 30% for ads-free and full access now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Philippines , Economy , Rate Hike

Others Also Read


All Headlines:

Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In