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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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