By Doris C. Dumlao
Typhoon “Glenda” likely shaved at least P7.8 billion to as much as P10 billion off the country’s third-quarter economic output a day in terms of property damage as well as business and consumption disruptions, an economist from Citigroup estimated.
Economic growth likely started to accelerate in the second quarter of the year, pulled up by reconstruction efforts and higher demand for the country’s exports fueled by the recovery of advanced economies.
By Ben O. de Vera
, Paolo G. Montecillo
The Philippine economy’s growth momentum lost steam in the first quarter of the year as the impact of Super Typhoon Yolanda (international name: Haiyan) and other natural disasters hit harder than expected.
The local stock index on Thursday fell sharply as investors sold down equities due to the lower-than-expected economic growth in the first quarter.
By Paolo G. Montecillo
For a week, Metro Manila will become the center of Asia as it plays host to most of the continent’s most powerful personalities in government, business, and civil society.