Despite weak external demand that hit exports, the economy showed robust growth from a rise in household consumption, private investment and strong government spending. Robust growth in domestic demand should drive economic growth up this year and in 2017.
A more severe El Niño impact on agriculture and food prices is a risk.
|Composite Stock Price Index 1||7.0 (Jan17)||6.0||6.0|
|Broad Money Growth 2||12.4 (Dec16)||12.4||12.7|
|Headline Inflation Rate 3||2.6 (Dec16)||2.5||1.5|
|Industrial/ Manufacturing Production Growth Rate 3||14.6 (Nov16)||11.3||4.4|
|Merchandise Export Growth 3||-7.5 (Nov16)||-7.5||7.6|
|Exchange Rate Index 4||94.9 (Jan17)||94.9||95.0|
|1 Monthly average, local index.|
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
|Source: Bloomberg LP; CEIC database; Philippine Statistics Authority; National Statistics Office.|