Philippine Economy 2013
Philippine Economy 2013
The Philippine government expressed hope Saturday that the country’s economy will continue to improve this year following a good start in 2013 as shown by the record high stock market and low inflation.
Deputy presidential spokesperson Abigail Valte, in an interview over a state-run radio station, lauded the performance of the Philippine Stock Exchange index PSEi, which extended its rally for the 3rd day Friday.
“Hopefully, they’re set to breach the 6,000 mark,” she said, noting that Friday it closed at 5,971.45, gaining 37.40 pts or 0.6%.
She cited that even the inflation rate, which averaged at 3.2 percent last year, was well within the government’s full year target of 3 percent to 5 percent.
“So hopefully, yes, we will get more good news on the economic front as we have been getting in the past year,” Ms. Valte said.
According to the latest data issued by Philippine government in November, the Philippine economy grew 6.5% in the 1st 3 Quarters of Y 2012, surpassing the Y 2012 growth target of 5 to 6%.
The government has not yet release the economic performance for the whole of 2012.
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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