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Philippine economy regains momentum, but policy seen on hold MANILA: The Philippines rounded out 2014 as the fastest-growing economy in Asia after China, regaining momentum in the final quarter of the year on strong farm output and construction activity.The surprising performance, which put Asia's fifth-largest economy on course to return to growth of around 7 percent this year amid cooling inflation, cements expectations the central bank will leave policy rates on hold for some time."Our economy has moved into a long-term growth path; 7 percent is quite sustainable and achievable," Socioeconomic Planning Secretary Arsenio Balisacan told a news conference. The economy grew 7.2 percent in 2013.The fourth quarter grew a seasonally adjusted 2.5 percent over the prior three months and an annual 6.9 percent, beating economists' forecasts. Growth for the full-year came in at 6.1 percent, shy of the government's 6.5-7.5 percent forecast, but ranked second in the region to China's 7.4 percent clip.The growth numbers support views the ...

China Jan official PMI seen lifting off 1-1/2-year low BEIJING: China's factory growth likely inched up from a 1-1/2-year low in January, helped by a slight pick-up in momentum the previous month, but the bounce is not expected to last due to unsteady exports and slowing investment, a Reuters poll showed.The official manufacturing Purchasing Managers' Index, or PMI, is forecast to inch up to 50.2 from December's 50.1, according to the median forecast of 11 economists in the poll.A reading above 50-point level indicates ...
Portugal business confidence resumes advance in January LISBON: Portugal's economic climate indicator rose in January and consumer confidence advanced to its highest level since May 2002, data showed on Thursday.The economic climate indicator, which measures business confidence, stood at plus 0.3 in January, up from 0.2 the previous month and resuming its rise after two months of declines. The index turned positive in May 2014 - the month Lisbon exited an international bailout.The National Statistics Institute also said its consumer confidence indicator ...
Thailand trims growth forecasts, output slides 4.6pc in 2014 BANGKOK: Thailand's finance ministry again trimmed its growth forecasts for this year and the last on Thursday, when fresh factory output data provided more evidence that the economy remains wobbly.The ministry now sees 2015 economic growth at 3.9 percent, compared to its December forecast of about 4 percent and an October projection of 4.1 percent.For 2014, whose full-year GDP growth rate will be announced on Feb. 16, the ministry reduced its projection to just 0.7 ...
German unemployment rate falls to record low in January BERLIN: Germany's jobless rate fell to a record low of 6.5 percent in January and Berlin predicts it will fall further through 2015, boosting expectations that private consumption will help drive growth in Europe's largest economy this year.The jobless rate in January, which matched the forecast in Reuters poll, hit its lowest level since Germany reunified in 1990 after the December reading was revised up to 6.6 percent from an originally reported 6.5 percent.The number ...
Sri Lanka to cut 2015 fiscal deficit to 4.4pc of GDP vs 4.6pc COLOMBO: Sri Lanka's new government aims to cut its 2015 fiscal deficit to 4.4 percent of gross domestic product (GDP), better than a target of 4.6 percent set by the previous administration, a budget document showed on Thursday.A cut of 177 billion rupees ($1.34 billion) in infrastructure spending is mainly responsible for the deficit reduction, it showed.President Maithripala Sirisena's supplementary budget also cut public investment to 4.6 percent of the GDP, down from 6.2 percent ...
UK retail sales growth slows less than expected in January: CBI LONDON: British retail sales growth slowed by less than expected in January, helped by the biggest rise in clothing sales in almost two years, an industry survey showed on Thursday.The Confederation of British Industry's distributive trades survey's retail sales balance fell to +39 from December's 27-year high of +61 that was fuelled by a "Black Friday" shopping frenzy.Economists polled by Reuters had expected a steeper slowdown this month to +30."After the sales bonanza of Black ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln