cover image: Philippines Monthly Economic Developments (September 2024) (English)

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Philippines Monthly Economic Developments (September 2024) (English)

2 Oct 2024

Robust domestic demand fueled an uptick in manufacturing activity and a rebound in imports of goods and services. Meanwhile, goods exports stagnated because of muted demand for Philippine electronics while services exports slowed due to weaker-than-expected growth in business services. US monetary policy easing has boosted financial inflows into the foreign exchange and stock markets. It also provides more policy space for the Bangko Sentral ng Pilipinas (BSP), which resumed substantial reductions in reserve requirements and signaled further rate cuts in October and December. Along with the downward trend in inflation, these policy adjustments are expected to reinforce the upward trend in bank lending.
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Authors

World Bank

Disclosure Date
2024/10/02
Disclosure Status
Disclosed
Doc Name
Philippines Monthly Economic Developments (September 2024)
Pages
4
Published in
United States of America
Unit Owning
EFI-EAP-MTI-MacroFiscal-2 (EEAM2)
Version Type
Final
Volume No
1

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