Benefiting from robust consumer spending and improving investment climate, the Philippine economy was expected to have maintained a robust 6.5-percent growth in the fourth quarter of 2012 and remained one of the fastest-growing economies in the region.
This was according to Moody’s Analytics, which said in a report released Monday that the healthy pace of economic expansion that the Philippines registered in the first three quarters of 2012 was likely maintained in the last three months of the year.
A 6.5-percent growth was deemed higher than the Philippine economy’s potential growth, which economists placed between 4 and 5 percent. Potential growth is normally measured as the average growth for the past several years, usually a decade.
For 2012, the government’s official economic growth target was 5 to 6 percent.
Moody’s Analytics said one of the drivers of growth in the fourth quarter was strong consumer spending, which has been backed by remittances from overseas Filipinos. Investments by local firms were also cited by many economists as a growth driver for the fourth quarter and the entire 2012.
“Remittances continue to flow in, supporting consumer demand. Business confidence has been trending steadily higher as the outlook is rosy and the government has provided a more business-friendly setting,” Moody’s Analytics said.
The government will release the official gross domestic product (GDP) growth figure for the fourth quarter and the full year of 2012 on Thursday. –Michelle V. Remo, Philippine Daily Inquirer
It’s women’s month!
“Support women every day of the year!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
