Business planners by this time already have their own basic assumptions on how the Philippine economy would perform this year. They have their own macro-economic targets, guided by the set of goals forecast by government planners. Know more:
Business planners by this time already have their own basic assumptions on how the Philippine economy would perform this year. They have their own macro-economic targets, guided by the set of goals forecast by government planners.
Exchange rate targets went awry—the peso flirted with the 60:$1 level briefly late last year following the big rate adjustments of the US Federal Reserve. Suddenly, the cost assumptions of many companies were way off target. The Philippines is not insulated from the global recession but I am confident of a solid economic growth this year. The holiday spending and the hectic pace of travel that we saw in December last year attest to a strong economic performance in the fourth quarter.
We have seen positive economic indicators during the fourth quarter that will sustain Philippine economic growth. The S&P Global Philippines PMI, for one, has mostly been on an expansion mode, hitting 52.7 percent index points in November. Jobs in the manufacturing sector rose 10.4 percent year-on-year in October as higher sales signaled business expansions and higher capacity use. The unemployment rate, meanwhile, dropped to 4.5 percent in October, down from 5.
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