December 4, 2023
DOMESTIC manufacturing conditions improved for a third straight month in November as stronger demand drove new orders and output, S&P Global said on Friday. S&P Global’s Philippine manufacturing purchasing managers’ index (PMI) rose to 52.7, up from 52.4 in October and the strongest showing since February. PMI readings above 50 point to growth while those
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A STABLE peso and slower inflation could prompt monetary authorities to again keep interest rates unchanged when they meet a final time for this year next month, an economist said. After ordering an off-cycle 25-basis point (bps) rate hike in October due to renewed inflation concerns, the Monetary Board last November 16 maintained the Bangko
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THE peso fell against the dollar on Wednesday while bargain-hunting continued to lift the stock market. The currency weakened by 6 centavos to P55.45:$1, a result Rizal Commercial Banking Corp. chief economist Michael Ricafort attributed to higher crude prices and a stronger greenback. It opened trading at P55.5 to the greenback and ranged from P55.44
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THE peso gained anew, and the stock market climbed back to the 6,200 level on Tuesday following favorable data from abroad, analysts said. The currency strengthened by 16 centavos to P55.39 against the dollar while the benchmark Philippine Stock Exchange index (PSEi) added 25.20 points, or 0.41 percent, to end the day at 6,208.83. The
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THE peso started the week on a positive note, but the stock market ended a three-day rally and fell back below the 6,200 level as investors awaited fresh data. The currency strengthened by 12 centavos to P55.55 against the dollar, while the benchmark Philippine Stock Exchange index (PSEi) sank by 28.26 points, or 0.46 percent,
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THE peso and the stock market edged up on Thursday ahead of news that the Bangko Sentral ng Pilipinas (BSP) would keep key interest rates unchanged. The currency strengthened by 3-and-a-half centavos to P55.79 against the dollar, while the benchmark Philippine Stock Exchange index added 20.35 points, or 0.33 percent, to close the day at
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FARM output contracted further in the third quarter (Q3) as livestock and poultry gains failed to offset a decline in crops and fisheries, the Philippine Statistics Authority reported on Wednesday. The value of agricultural and fisheries production fell by 0.3 percent in July to September, reversing from the 1.6-percent growth posted in the same period
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DOMESTIC manufacturing conditions improved further in October with a key indicator posting the fastest upturn in seven months, S&P Global Market Intelligence reported on Friday. S&P Global’s Philippine purchasing managers’ index (PMI) rose for a second straight month to 52.4, up from 50.6 in September. PMI readings above 50 point to growth while those below
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The peso closed up anew on Thursday and the stock market also edged higher as investors readied for the release of US inflation data. The currency strengthened by nine and half centavos to P56.66 against the dollar while the benchmark Philippine Stock Exchange index (PSEi) improved by 9.10 points, or 0.15 percent, to end the
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MANUFACTURING output improved in both value and volume terms in August, the Philippine Statistics Authority (PSA) reported on Friday. The Value of Production Index (VaPI) expanded by 9.1 percent, markedly higher than the 4.9 percent a month earlier. It was, however, slower than the year-earlier 12.3 percent. The Volume of Production Index (VoPI), meanwhile, grew
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