A SUGAR Regulatory Administration (SRA) board member said production could rise if the sugar milling season is moved back to its “proper” start date of October. Speaking at the Laging Handa briefing on Tuesday, SRA Board Member and Planter’s Representative Pablo Luis S. Azcona said the decision of many sugar mills to start operating in […]
Tag: october
November jobless rate falls to lowest since 2005
The Philippines’ unemployment rate dropped to its lowest level in over 17 years in November, as firms hired more workers ahead of the holiday season. Preliminary data from the Philippine Statistics Authority’s Labor Force Survey (LFS) released on Friday showed the unemployment rate further eased to 4.2% in November. This was lower than the 4.5% […]
Infrastructure spending sharply lower in October on month-on-month basis
INFRASTRUCTURE spending fell 38.3% month on month in October to P61.2 billion, according to the Department of Budget and Management (DBM). The DBM said on Tuesday that on a year-on-year basis, expenditure on infrastructure and other capital outlays rose 0.5%. The DBM said in October, disbursements fell for the Armed Forces of the Philippines Modernization […]
‘Better years’ are coming for PH economy: Finance chief
THE worst is over, and better years are expected. This was how Finance Secretary Benjamin Diokno sees the Philippine economy moving forward as the country is about to close the year 2022. “On the economy, after a modest recovery in 2021, the Philippine GDP will likely grow much faster than the official target range of […]
Cash remittances rise to 3-month high in Oct.
By Keisha B. Ta-asan, Reporter MONEY SENT HOME by overseas Filipino workers (OFWs) rose by 3.5% in October, with migrants taking advantage of the strong dollar ahead of the holiday season. Data from the Bangko Sentral ng Pilipinas (BSP) released on Thursday showed cash remittances through banks stood at $2.91 billion in October, higher […]
Palay farmgate price up 1.8% in October
THE average farmgate price of palay (unmilled rice) rose 1.8% month on month to P17.37 per kilogram (kg) in October, according to the Philippine Statistics Authority (PSA). Year on year, the average price rose 10.1%, with all regions reporting price increases, according to the PSA. “All regions recorded positive year-on-year growth rates in October 2022. […]
How much does each commodity group contribute to November inflation?
The headline inflation climbed to 8% in November from 7.7% in October and 3.7% a year ago, reaching a 14-year high since the 9.1% reading in November 2008 during the global financial crisis. The headline figure is near the higher end of the central bank’s 7.4-8.2% forecast range for November, and marked the eighth straight […]
Manhattan apartment rents inch up after 3 months of decline
MANHATTAN apartment rents climbed slightly in November after three months of declines. But the market isn’t returning to the hypercompetitive heights of the summer. The median rent rose 2.1% from October to $4,095, the third-highest level ever recorded by appraiser Miller Samuel, Inc. and brokerage Douglas Elliman Real Estate. Yet there were also indications that […]
Peso rises on oil’s decline
THE PESO strengthened further against the dollar on Wednesday on lower global oil prices and better Philippine employment and factory data. The local currency ended at P55.45 against the greenback on Wednesday, surging by 52.5 centavos from P55.975-a-dollar close on Tuesday, based on data from the Bankers Association of the Philippines. The peso opened stronger […]
Jobless rate in PH slowed down to 4.5% in October
THE country’s unemployment rate dropped to 4.5 percent in October 2022 from 7.4 percent in the same period last year. This translates to 2.24 million jobless Filipinos in October, the Philippine Statistics Authority said Wednesday, Dec. 7, 2022. Employment rate, on the other hand, increased to 95.5 percent, the highest record since the start of […]
‘Hot money’ swings to inflow in October
By Luisa Maria Jacinta C. Jocson, Reporter MORE SHORT-TERM foreign capital entered than left the Philippines in October, after five straight months of outflows, Bangko Sentral ng Pilipinas (BSP) data showed on Thursday. Transactions on foreign portfolio investments registered with the central bank through authorized agent banks (AABs) posted a net inflow of $83 million […]
Budget deficit widens to P99B in October
By Luisa Maria Jacinta C. Jocson, Reporter The National Government’s budget deficit ballooned to P99.1 billion in October, as state spending outpaced revenue collections, the Bureau of the Treasury (BTr) reported on Friday. In its latest cash operations report, the BTr said the October budget gap rose by 54.08% from the P64.3 billion deficit in […]
October balance of payments at $711M surplus
The Philippines’ overall balance of payments (BoP) position was a surplus of $711 million in October, lower than the $1.1 billion surplus recorded in the same month last year, the central bank said on Friday. The BoP surplus for October reduced the cumulative BOP deficit in January-October to $7.1 billion from a deficit of $7.8 […]
How much does each commodity group contribute to October inflation?
Headline inflation picked up to 7.7% in October from 6.9% in September and 4% in October 2021, reaching a 14-year high since the 7.8% reading in December 2008 during the global financial crisis. This is near the high end of the Bangko Sentral ng Pilipinas’ 7.1-7.9% forecast range for that month, and marked the seventh […]
Shares to move sideways ahead of GDP, US CPI
LOCAL EQUITIES are expected to trade sideways this week ahead the release of third-quarter Philippine gross domestic product (GDP) data and the October US consumer inflation report. On Friday, the benchmark Philippine Stock Exchange index (PSEi) rose by 29.42 points or 0.47% to end at 6,185.53, while the broader all shares index gained 15.87 points […]
Rains, lack of manpower deter traffic operations
BAD weather conditions in the city and the lack of manpower at the Cebu City Transportation Office (CCTO) have both led to fewer traffic apprehensions in the month of October 2022 compared to the month of September. Newly installed CCTO acting department head Raquel Arce told SunStar Cebu on Friday, Nov. 4, that citation tickets […]
Inflation surges to near 14 year-high in October
By Keisha B. Ta-asan, Reporter Annual inflation quickened to its fastest pace in almost 14 years in October, as food prices soared due to the impact of recent typhoons, the Philippine Statistics Authority (PSA) said. Preliminary PSA data showed headline inflation accelerated to 7.7% in October, from 6.9% in September and 4% in October 2021. […]
Philippines October inflation at highest since December 2008
Philippine annual inflation accelerated to 7.7% in October, the highest since December 2008 and up from the previous month’s 6.9%, the statistics agency said on Friday. Last month’s inflation rate was above the 7.1% median forecast in a Reuters poll, and near the top end of the central bank’s 7.1% to 7.9% forecast for the […]
Customs exceeds Oct. target
THE BUREAU of Customs (BoC) said Wednesday that it exceeded its collection target for a tenth straight month in October. In a statement, the BoC reported collections of P75.5 billion in October, exceeding its target for the month by 18.6%. Year on year, October collections were up 35%. In the 10 months to October, collections […]
Cautious trade seen ahead of Fed meet, inflation
PHILIPPINE STOCKS will be range-bound as trading resumes this week ahead of the release of October inflation data and the US Federal Reserve’s policy meeting. On Friday, the benchmark Philippine Stock Exchange index (PSEi) went down by 77.15 points or 1.23% to finish at 6,153.43, while the broader all shares index declined by 25.09 points […]