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Philippine economic growth slows to three-year low MANILA: Philippine economic growth in the first quarter slowed to a three-year low of 5.2 percent, well below forecasts, due to lethargic government spending and weak exports, officials said Thursday.The expansion in the January-March period for what has recently been one of Asia's best performing economies was the worst since the 3.8-percent expansion in the last quarter of 2011, according to government data.It was also lower than the 6.6-percent median forecast of a Bloomberg survey and well off Manila's full-year forecast of seven to eight percent."While growth in the private sector remains robust, the slower than programmed pace of public spending, particularly the decline in public construction, has slowed down the overall growth of the economy," Economic Planning Secretary Arsenio Balisacan told reporters."Exports were the other source of the slowdown," he said, blaming the growth downtrend in China and some emerging economies for the weak demand.The government also revised growth ...

Brazil's government cuts 2016 growth forecast to 1.0pc BRASILIA: Brazil's Planning Ministry cut its forecast for 2016 economic growth to 1.0 percent, from 1.3 percent previously, according to slides shown during a Congressional hearing with minister Nelson Barbosa on Wednesday. The forecast is in line with market expectations compiled by the central bank.Copyright Reuters, 2015 ...
NZ's Fonterra forecasts NZ$5.25 dairy payout for coming year WELLINGTON: New Zealand dairy co-operative Fonterra raised its forecast payout to farmer shareholders for the coming season on Thursday, but further lowered its forecast for the current season. The world's largest dairy processor set NZ$5.25 a kilogram of milk solids as the initial forecast of the price it will pay, which was broadly in line with expectations. However, it lowered its forecast for the current season, which close to ending, by 10 NZ cents to ...
German consumer confidence hits 13.5-year high FRANKFURT: Consumer confidence in Germany is at its highest in 13.5 years, as the positive economic outlook and low inflation persuade consumers to open their purses, a poll found on Wednesday."Very strong domestic demand in Germany and the low rate of inflation are fuelling economic expectations and consumers' willingness to spend," market research company GfK said in a statement.By contrast, income expectations have slipped slightly from their previous record high, the statement said. Looking ahead ...
China April industrial profits reverse 6-month falling trend SHANGHAI: Chinese industrial sector profits posted their first annual rise since last September, National Bureau of Statistics data showed on Wednesday, in a sign margin pressure on firms may be easing and government stimulus may be filtering into the real economy.Industrial sector profits in April rose 2.6 percent from a year earlier, but were down 1.3 percent for the year to date, reflecting the extreme weakness of growth in the first quarter.The statistics bureau said ...
US business spending plans rise solidly in April WASHINGTON: US business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a recent long spell of weakness.The Commerce Department said on Tuesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.0 percent last month after an upwardly revised 1.5 percent increase in March.The so-called core capital goods orders were previously reported to have increased 0.6 percent in ...
Danish government raises 2015 growth forecast as election looms COPENHAGEN: The Danish government raised its economic growth forecast for 2015 on Thursday and said it saw a lower budget deficit than previously expected, according to a report seen by Reuters.In the report, due to be published later on Tuesday, the government predicted growth of 1.7 percent this year, compared to a forecast given in December of 1.4 percent.It said it sees a budget deficit of 1.3 percent of GDP, compared with a previous forecast ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln