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.

Source: Asian Development Outlook 2016, ADB.
Latest Month-Ago Year-Ago
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.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Philippine Statistics Authority; National Statistics Office.