Monitoring the Philippine Economy Fourth Quarter Report for 2022

The Philippine economy grew 7.2 percent, featuring robust growth despite facing domestic challenges. Fourth quarter growth reflected a more optimistic consumer sentiment as the economy continued to open up. Economic growth in Q4 2022 was 7.2 percent year-on-year and 17.1 percent quarter-on-quarter (...

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Main Authors: Conchada, Mitzie Irene P., Cabiltes, Natasha Amber Y., Miranda, Brendan Emmanuel A., Empeño, Edgar Desher P.
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Published: Animo Repository 2023
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Online Access:https://animorepository.dlsu.edu.ph/res_aki/92
https://animorepository.dlsu.edu.ph/context/res_aki/article/1086/viewcontent/q4_2022_pem_report_final.pdf
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Institution: De La Salle University
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spelling oai:animorepository.dlsu.edu.ph:res_aki-10862023-07-04T03:15:48Z Monitoring the Philippine Economy Fourth Quarter Report for 2022 Conchada, Mitzie Irene P. Cabiltes, Natasha Amber Y. Miranda, Brendan Emmanuel A. Empeño, Edgar Desher P. The Philippine economy grew 7.2 percent, featuring robust growth despite facing domestic challenges. Fourth quarter growth reflected a more optimistic consumer sentiment as the economy continued to open up. Economic growth in Q4 2022 was 7.2 percent year-on-year and 17.1 percent quarter-on-quarter (q-o-q), showing the Philippines’ consistent effort to create a positive growth outlook for the economy (see Table 1). Year-on-year growth exceeded the median analyst forecast of 6.8 percent despite accelerating inflation and growing food security issues. Revenge spending continues to drive consumption on the demand side while service sector growth remains headstrong on the supply side amid stunted growth in the industry and agriculture sectors. Meanwhile, an expected reversal to a balance-of-payments surplus at December-end was fueled by remittances and tourism receipts during the holiday season. The trade deficit narrowed as well in Q4-end, with prospects for trade looking bright with the Senate’s eventual ratification of the Regional Comprehensive Economic Partnership in the next quarter. Looking ahead, the central bank and national government must continue to determine the effective mix of policies and straighten out its priorities to support the economy's recovery. 2023-01-01T08:00:00Z text application/pdf https://animorepository.dlsu.edu.ph/res_aki/92 https://animorepository.dlsu.edu.ph/context/res_aki/article/1086/viewcontent/q4_2022_pem_report_final.pdf Economic growth; Regional Comprehensive Economic Partnership; Maharlika Investment Fund; Fiscal deficit; inflation Angelo King Institute for Economic and Business Studies Animo Repository Behavioral Economics Growth and Development Public Economics
institution De La Salle University
building De La Salle University Library
continent Asia
country Philippines
Philippines
content_provider De La Salle University Library
collection DLSU Institutional Repository
topic Behavioral Economics
Growth and Development
Public Economics
spellingShingle Behavioral Economics
Growth and Development
Public Economics
Conchada, Mitzie Irene P.
Cabiltes, Natasha Amber Y.
Miranda, Brendan Emmanuel A.
Empeño, Edgar Desher P.
Monitoring the Philippine Economy Fourth Quarter Report for 2022
description The Philippine economy grew 7.2 percent, featuring robust growth despite facing domestic challenges. Fourth quarter growth reflected a more optimistic consumer sentiment as the economy continued to open up. Economic growth in Q4 2022 was 7.2 percent year-on-year and 17.1 percent quarter-on-quarter (q-o-q), showing the Philippines’ consistent effort to create a positive growth outlook for the economy (see Table 1). Year-on-year growth exceeded the median analyst forecast of 6.8 percent despite accelerating inflation and growing food security issues. Revenge spending continues to drive consumption on the demand side while service sector growth remains headstrong on the supply side amid stunted growth in the industry and agriculture sectors. Meanwhile, an expected reversal to a balance-of-payments surplus at December-end was fueled by remittances and tourism receipts during the holiday season. The trade deficit narrowed as well in Q4-end, with prospects for trade looking bright with the Senate’s eventual ratification of the Regional Comprehensive Economic Partnership in the next quarter. Looking ahead, the central bank and national government must continue to determine the effective mix of policies and straighten out its priorities to support the economy's recovery.
format text
author Conchada, Mitzie Irene P.
Cabiltes, Natasha Amber Y.
Miranda, Brendan Emmanuel A.
Empeño, Edgar Desher P.
author_facet Conchada, Mitzie Irene P.
Cabiltes, Natasha Amber Y.
Miranda, Brendan Emmanuel A.
Empeño, Edgar Desher P.
author_sort Conchada, Mitzie Irene P.
title Monitoring the Philippine Economy Fourth Quarter Report for 2022
title_short Monitoring the Philippine Economy Fourth Quarter Report for 2022
title_full Monitoring the Philippine Economy Fourth Quarter Report for 2022
title_fullStr Monitoring the Philippine Economy Fourth Quarter Report for 2022
title_full_unstemmed Monitoring the Philippine Economy Fourth Quarter Report for 2022
title_sort monitoring the philippine economy fourth quarter report for 2022
publisher Animo Repository
publishDate 2023
url https://animorepository.dlsu.edu.ph/res_aki/92
https://animorepository.dlsu.edu.ph/context/res_aki/article/1086/viewcontent/q4_2022_pem_report_final.pdf
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