- Analytics
- News and Tools
- Market News
- Philippines: Economy started the year on a strong note – UOB
Philippines: Economy started the year on a strong note – UOB
UOB Group’s Senior Economist Julia Goh and Senior Economist Loke Siew Ting review the latest GDP figures in the Philippines.
Key Takeaways
“The Philippines’ economy got off to a strong start this year, with 1Q22 GDP growth accelerating to a three-quarter high of 8.3% y/y (from an upwardly revised 7.8% in 4Q21 vs 7.7% previously). The reading came in well above our estimate (+7.6%) and Bloomberg consensus (+6.8%). It was propelled by a persistent expansion across all sectors, the strongest household consumption growth on record, robust investment and continued stock replenishment activities regardless of the Omicron wave hit during the quarter.”
“Despite rising external challenges, we believe that the Philippines’ economic recovery prospects remain intact through 2022. Positive growth catalysts include the country's border reopening to foreign visitors since Feb, the ongoing targeted government policy support, the world’s transition to endemicity, and the likelihood of broader policy continuity after Monday's (9 May) presidential elections. We reiterate our 2022 full-year GDP growth forecast at 6.5% (official est: 7.0%-9.0%).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
