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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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 |
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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 |
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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. |
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Conchada, Mitzie Irene P. Cabiltes, Natasha Amber Y. Miranda, Brendan Emmanuel A. Empeño, Edgar Desher P. |
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Conchada, Mitzie Irene P. Cabiltes, Natasha Amber Y. Miranda, Brendan Emmanuel A. Empeño, Edgar Desher P. |
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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 |
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Monitoring the Philippine Economy Fourth Quarter Report for 2022 |
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monitoring the philippine economy fourth quarter report for 2022 |
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Animo Repository |
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2023 |
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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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