Philippines 2023 GDP Rises 5.6% YoY, Est. +5.5%
The news about the Philippines' 2023 healthy GDP growth despite numerous natural disasters and other challenges in the previous year, could potentially boost the country's stock market by creating a positive economic environment and attracting foreign investors.
The news about the Philippines' 2023 healthy GDP growth despite numerous natural disasters and other challenges in the previous year, could potentially boost the country's stock market by creating a positive economic environment and attracting foreign investors.
That, however, fell short of the 7.6% pace in 2022 while missing a government target of 6% to 7%.
The Philippine economy faced multiple hurdles last year, including soaring food prices and persistent supply chain bottlenecks. The government responded with price caps on rice while the central bank hiked interest rates to their highest in years in a bid to contain inflation.
Fed-Favored Inflation Gauge Seen Rising Most in a Year
Underlying U.S. inflation probably rose in January by the most in a year, as tracked by the Federal Reserve’s preferred metric, highlighting the long and bumpy path to taming price pressures.
U.S. Retail Sales Dived, Sinking Treasury Yields, but Initial Jobless Claims Slipped by 8,000
Retail sales badly undershot forecasts, including a dive in sales at nonstore retailers like Amazon (AMZN).
Slower U.S. Inflation Is Set to Fuel Fed Rate-Cut Optimism
The pulse of U.S. inflation likely continued to slow at the start of the year, helping to feed expectations that the Federal Reserve will find interest-rate cuts more palatable in the coming months.
