PHILIPPINES: Second Quarter GDP Beats Estimates
- The Philippines’ GDP growth for Q2 grew 5.5% year on year in 2Q25, from 5.4% in the first quarter and ahead of forecasts.
- Domestic consumption has seen mixed signals with imports contracting, overseas cash remittances moderating whilst unemployment has fallen.
- PMI manufacturing bottomed out just prior to the tariff announcements in April, with the accompanying bounce in April and since has seen positive trends emerging. Exports have had one of their strongest six months in several years, underpinning hopes for a pick up in growth.
- The quarter on quarter trend is up also with Q2 rising to +1.5%, from 1.2% in Q1 and topping forecasts of +1.3%.
- The second quarter result still sees growth below the revised government target of 5.5% - 6% (from 6 - 8%) but the improvements will be encouraging. The BSP starting cutting rates ahead of regional peers last year and have reduced the base rate from 6.50% to 5.25%. They next meet on August 28 and have cut at their last two meetings.
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CHINA PRESS: China Stock Market To Release New Indexs For Innovative Firms
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CHINA PRESS: China To Promote Construction of High-Power Charging Facilities
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