Asia – Page 22 – Author Carlo Carrasco

Philippines Trade Chief Points To Trump Tariffs As Country Braces For Dumping Of Products From Asian Neighbors

October 13, 2025October 12, 2025carlocarrasco

Here we go again with the perceived challenges related to the tariffs of Trump-led America. This time around the secretary of the Department of Trade and Industry (DTI) pointed to the Trump tariffs which she said raised the risk of products from Asian neighbors getting dumped into the Philippines and potentially harm local industries, according to news article by the Philippine News Agency (PNA).

For the newcomers reading this, the Trump administration had set a series of tariff rates for different nations in Asia. American tariff on Philippines-made products was set at 19% after the big meeting between US President Trump and Philippine President Ferdinand “Bongbong” Marcos, Jr.

It is a known fact that many nations in Asia export their products to the United States but with the new tariffs in effect and the fact that the Philippines has a population of more than one hundred million people, the latter is anticipated to become the dumping ground of Asian products. This development is happening just as the economy of the Philippines will grow by less than 6% this year (click here, here and here). Recently, the US State Department published a report about pervasive corruption being a barrier to investment in the Philippines.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The recent increase in the United States’ tariff rates heightened the risk of Asian goods being dumped into the Philippine market, raising the need for more stringent measures to protect local industries, Department of Trade and Industry (DTI) Secretary Cristina Roque said Wednesday.

Roque, in an interview on the sidelines of the Federation of Philippine Industries Inc. Business Summit in Makati City, said they expect increased entry of steel, cement, and garments, among others.

She traced this to the attractiveness of the Philippines as a market, given the country’s large population of over 100 million. She said DTI will work closely with the Bureau of Customs (BOC) to ensure that only registered and properly taxed goods enter the country.

The DTI will also coordinate with local industries to prevent the continued spread of unregistered products in the market.

On Tuesday, personnel from DTI’s Fair Trade Enforcement Bureau seized around PHP2 million worth of substandard construction materials from 24 retailers in Central Luzon as it strengthened its drive against uncertified and unsafe products in the market.

“We need to protect the manufacturing industry of the Philippines. So us, being in government, and us making sure we protect the jobs of the people,” she said.

Roque also noted that although investments continue to pour in, the volume is not what they had expected, thus, the need to boost local industries.

“So, we try to help them resolve whatever issues they have. And then we also at least help them strengthen or level up their businesses,” she explained.

Let me end this post by asking you readers: What is your reaction to this development? Do you think it is only a matter of time before a massive amount of Asian products (originally made for export to America) will arrive in the markets of the Philippines very soon? Did you notice any unregistered or sub-par quality products from overseas already being sold locally? What do you think can the DTI do to protect the local industries and livelihood of many Filipinos?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

RIDEMed Inaugural Delivery Led By Muntinlupa City Mayor

October 12, 2025October 12, 2025carlocarrasco

Recently in the progressive City of Muntinlupa, RIDEMed (previously referred to as RIDE Med) was officially launched and Mayor Ruffy Biazon led the inaugural delivery, according to a news report by the Daily Tribune. RIDEMed stands for Responsive Integrated Delivery of Essential Medicines.

To put things in perspective, posted below is an excerpt from the news report of the Daily Tribune. Some parts in boldface…

The Muntinlupa City government held its inaugural ride of the RideMed program, a free delivery service of maintenance medicines for senior citizens and bedridden seniors.

Muntinlupa Mayor Ruffy Biazon led the inaugural delivery of the program joined by the program riders, Barangay Health Workers and Councilor Rachel Arciaga. Their first stop was at Bliss Muntinlupa where they visited one of the beneficiaries.

Biazon said that the program covers seniors aged 80 and above, as well as bedridden individuals aged 60 and above, who will receive their maintenance medicines directly at home. The program forms part of the benefits and health programs for senior citizens of the city.

Under the program, each health center will have an assigned RideMed team accompanied by a barangay health worker.

“We require that the Barangay Health Worker accompany the rider to check the beneficiaries’ vital signs,” Biazon said.

The program provides several maintenance medicines for hypertension, diabetes, high cholesterol, and for general wellness.

Registration is open at all barangay health centers on Mondays, Tuesdays, and Thursdays from 8:00 a.m. to 5:00 p.m., and on Wednesdays and Fridays from 1:00 p.m. to 5:00 p.m.

For details on the registration for RIDE Med, click here.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are there many senior citizens in your local community who need medication delivered to them?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Las Piñas City Mayor Receives Gawad Galing Award

October 11, 2025October 5, 2025carlocarrasco

Recently Las Piñas City Mayor April Aguilar received a prestigious award related to healthcare and being a top public servant, the City Government announced via social media.

To put things in perspective, posted below is an excerpt from the social media post of the City Government. Some parts in boldface…

Congratulations to Mayor April Aguilar for being honored with the prestigious Gawad Galing: Global Award of Excellence in Healthcare, receiving the recognition as Top Public Servant in the Allied Health category. This accolade celebrates exceptional individuals who have made remarkable contributions to the healthcare sector in the Philippines and beyond.

The award, which highlights both healthcare professionals and visionary leaders driving improvements in health services, recognizes Mayor April’s transformative initiatives in making healthcare more accessible, efficient, and high-quality across the city.

Mayor April’s administration has set a new standard for local government-led healthcare programs, proving that innovation, dedication, and compassionate governance can transform public health delivery. The award further cements her reputation as a trailblazer in public service and a champion for the welfare of her constituents.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you happy having April Aguilar as the mayor of the city?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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IMF Sees Philippine Economy Growing 5.4% This Year And 5.7% Next Year

October 10, 2025October 3, 2025carlocarrasco

By citing factors like weaker-than-expected growth in the first half, the American tariffs on Philippine goods and geopolitical conflicts, the International Monetary Fund (IMF) sees the economy Philippines growing only 5.4% this year and 5.7% next year, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

PHILIPPINE ECONOMIC GROWTH is expected to moderate this year and in 2026 amid ongoing trade uncertainties and geopolitical tensions across the globe, the International Monetary Fund (IMF) said.

The IMF trimmed its Philippine growth forecast to 5.4% for this year, slightly lower than its 5.5% projection in July.

If realized, gross domestic product (GDP) growth will be at the low end of the National Government’s 5.5-6.5% target band this year.

For 2026, the IMF also cut its growth forecast to 5.7% from 5.9% previously. However, this is below the government’s 6-7% target for next year.

The IMF said the economy is expected to remain resilient, but downside risks warrant “close attention.”

“Risks to the growth outlook are tilted to the downside. The main external risks stem from prolonged global trade policy uncertainty, geopolitical tensions, and disruptive financial market corrections,” IMF Mission Head Elif Arbatli Saxegaard said at a briefing after the conclusion of the 2025 Article IV Consultation with the Philippines on Wednesday.

“On the domestic front, more frequent and intense climate shocks would cause notable macroeconomic losses. On the upside, accelerated implementation of structural and governance reforms would support investor confidence and the fiscal multiplier and raise potential growth. Risks around inflation are broadly balanced.”

Ms. Saxegaard said the growth outlook was revised to reflect the weaker-than-expected growth in the first half. For the first half, GDP growth averaged 5.4%, slower than the 6.2% a year ago.

Ms. Saxegaard said growth will be affected by the higher tariffs imposed by the US on Philippine goods. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7

“It will weigh on exports and investment,” she said.

She also noted growth will be “supported by monetary easing and recent legislative measures to promote private investment.”

Meanwhile, the IMF sees inflation averaging 1.6% this year, before picking up to 2.6% next year.

“The pickup in inflation is expected to be driven by (the) food and transport crisis,” Ms. Saxegaard said. “And that reflects essentially the decline in negative base effects that have been dragging down inflation this year. So, as those base effects recede, we expect a pickup.”

She said core inflation is expected to “remain muted” at 2.5% in 2026.

“The BSP (Bangko Sentral ng Pilipinas) has room for a slightly more accommodative stance to help bring inflation back to the target faster and reduce economic slack amid elevated downside risks to growth,” Ms. Saxegaard said. “Policy will need to remain data dependent amidst prevailing uncertainties around the output gap and the neutral rate, and two-sided risks to inflation.”

On Aug. 28, the central bank slashed its key interest rate by 25 basis points (bps) for a third consecutive time to 5%. It has cut the benchmark by a total of 150 bps since August last year.

CORRUPTION – Asked about recent corruption scandals involving some government projects, Ms. Saxegaard said the IMF will continue to monitor the developments.

“It’s not yet clear whether and how these allegations will impact investor and private sector confidence, as well as their perceptions and behavior,” she said.

The IMF welcomed recent reforms to reduce infrastructure gaps and promote foreign direct investment, but effective implementation is key.

“Enhancing fiscal governance and the rule of law and reducing corruption vulnerabilities are critical for inclusive and sustainable growth,” Ms. Saxegaard said.

The IMF urged the Philippine government to continue implementing gradual fiscal consolidation “to replenish fiscal buffers and support external balance.”

Let me end this post by asking you readers: What is your reaction to this development? Do you think the IMF’s prediction of weaker economic growth will turn out true? Do you think the flood control projects scandal and government corruption investigation are turning away foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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US State Department Flags Corruption In The Philippines As Barrier To Investment

October 9, 2025October 10, 2025carlocarrasco

Corruption is sadly deeply rooted here in the Philippines. So much so, the State Department of the United States flagged corruption as a barrier to investment in the Philippines, according to a GMA Network news report. To be clear, there have been economic forecasts about the Philippine economy growing less than 6% this year (possibly ending below the national government’s declared targets) and the US State Department published its detailed report about the country and investment online. As a lot of people are angry over corruption, tremendous economic damage of P1.7 trillion in market capitalization was wiped out (update: the Securities and Exchange Commission chairman apologized for stating the P1.7 trillion figure).

To put things in perspective, posted below is an excerpt from the GMA Network news report. Some parts in boldface…

The United States Department of State has flagged “pervasive” corruption in the Philippines as among the major barriers to foreign investment in the country.

In its 2025 Investment Climate report, the US State Department said “corruption is a pervasive and long-standing problem in both the public and private sector” in the Philippines.

It also cited the country’s rank of 114th out of 180 countries on Transparency International’s 2024 Corruption Perceptions Index and “remaining around that level since 2019.”

The State Department added that the World Economic Forum also flagged corruption as among the top problematic factors for doing business in the Philippines.

“The Philippines’ complex, slow, redundant, and sometimes corrupt judicial system inhibits the timely and fair resolution of commercial disputes,” it said.

“Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment. Investors often decline to file cases in court because of slow and complex litigation processes and fears of corruption. Stakeholders report an inexperienced judiciary when confronted with cases involving complex issues such as technology or science,” it added.

The State Department also said its embassy in Manila has received multiple reports from US businesses of overly invasive searches, inconsistent customs charges, and solicitations of “facilitation fees” (such as bribes) from some customs officials.

To see the entire 2025 Investment Climate Statements about the Philippines, click https://www.state.gov/reports/2025-investment-climate-statements/philippines

Let me end this post by asking you readers: What is your reaction to this development? Do you think the US State Department’s 2025 Investment Climate report about the Philippines is true and accurate? Are you concerned that the perceived corruption as well as the shocking revelations about the flood control projects scandals are already discouraging foreign investors from investing in the country? Do you think the Trump tariffs will eventually bring down Philippine exports to the United States in the next few months? What do you think the Philippine government should do to wipe out corruption and regain the trust of foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Asian Development Bank Sees Philippine Economy Growing Less Than 6% This Year

October 9, 2025September 30, 2025carlocarrasco

The Asian Development Bank (ADB) predicted that the economy of the Philippines will achieve growth of less than 6% this year, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

The Asian Development Bank (ADB) has maintained its economic growth outlook for the Philippines this year on the back of sustained domestic demand despite global trade uncertainties.

In the September 2025 edition of its flagship Asian Development Outlook (ADO), the ADB said it forecasts the country’s gross domestic product (GDP) to grow at 5.6% for 2025, maintained from the ADO July edition’s outlook.

The multilateral lender said that “robust domestic demand amid subdued inflation will support Philippine economic growth this year and the next.”

“The Philippines’ growth outlook remains resilient amid a global environment of shifting trade and investment policies and heightened geopolitical uncertainties,” said ADB country director for the Philippines Andrew Jeffries.

“Though these uncertainties pose increased risk, we see strong domestic demand anchoring growth, with sustained investments and an accommodative monetary policy supporting the economy’s expansion,” said Jeffries.

For 2026, the ADB said it sees the Philippine economy to grow at 5.7% — the same level as the country’s actual growth rate in 2024.

Nonetheless, the bank said the country is expected to remain a bright spot in Southeast Asia, “with the second highest GDP expansion in the region.”

Moreover, the ADB said it forecasts inflation to ease at 1.8% this year, before rising to 3% in 2026 to return to the government’s target range of 2% to 4%. The latest 2025 inflation forecast is lower from July’s 2.2%.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippine does not have any more momentum to grow at least 6% this year? Are you concerned that the flood control projects scandal and government corruption here in the Philippines will turn away foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Better than Streaming: I Finally Saw Nausicaä Of The Valley Of The Wind Inside The Movie Theater

October 8, 2025October 2, 2025carlocarrasco

Welcome back fellow geeks, Blu-ray collectors and movie buffs!

I finally did it! After having seen it many times on home video, cable TV, local TV and DVD, I finally viewed Nausicaä of the Valley of the Wind inside the local cinema here in the Philippines. I saw it on September 17 at SM Cinema inside SM Southmall in Las Piñas City. This was also the first time in two years since I last saw any movie inside the cinema (I last saw Sound of Freedom).

*An old movie poster of Nausicaä Of The Valley Of The Wind*.

For the newcomers reading this, Nausicaä Of The Valley Of The Wind was part of the Studio Ghibli Fest 2025 which was exclusive to SM Cinema (the largest cinema chain in the country). While the said fest ended on September 16, there were still screenings of Studio Ghibli anime feature films shown in SM Cinema branches from September 17 to 23.

I paid P275 (US$4.72 according to the foreign exchange as of this writing) for my SM Cinema ticket and it includes a free drink. I entered the cinema carrying my ticket, drink and popcorn feeling excited and nostalgic to see Nausicaä Of The Valley Of The Wind on the big screen for the first time ever. What was shown was the English-subtitled version with Japanese voiceovers (Sumi Shimamoto as Nausicaä, Gorô Naya as Yupa, Yoshiko Sakakibara as Kushana, Yôji Matsuda as Asbel, and more)

We were only seven people inside the cinema and there were lots of vacant seats beside, behind and in front of me. I was sitting very comfortably waiting for the screening to begin. At the same time, nobody had a noisy smartphone during the screening. As for me, I deliberately turned my smartphone off to ensure no communication-related distractions would happen.

Eventually Nausicaä Of The Valley Of The Wind finally started playing on the big screen. After the short animated opening scene, the music by Joe Hisaishi started playing as the opening credits went on. At that moment, I was immersed into Hayao Miyazaki’s anime classic immediately and I knew I made the right decision to see it inside the theater.

As the film went on, I adjusted myself to reading the subtitles while maintaining focus on the plot as well as the development of characters. Visually, the film turned out to be really spectacular on the big screen even though it had no computer-generated images at all (note: it is purely hand-drawn animation that was done with so much hard work by Miyazaki and the animators). With the higher resolution on the big screen, I saw a lot more tiny visual details here and there and the facial expressions of the characters became more lively than before. Very clearly, Nausicaä Of The Valley Of The Wind is meant to be seen in the movie theater.

*The sense of visual scale in scenes like this one is best viewed on the big screen in the movie theater. (photo source – IMDB.com)*

*There is nothing like exploring a very polluted forest filled with huge, mutated insects. (photo source – IMDB.com)*

After about two hours – the end credits includes animated scenes showing what happened after the climax – of watching, I left the cinema feeling very satisfied and entertained even though I saw Miyazaki’s 1984 masterpiece many times over the decades. The fact that the English-subtitled version was shown gave me an idea of what Japanese moviegoers saw inside their cinemas in 1984, and I can say that the Japanese voiceovers were engaging to listen to. The big screen experience alone made watching Nausicaä Of The Valley Of The Wind worth it.

That being said, I want to express out loud to local movie theater operators reading this to consider showing more of the classic anime feature films as well as classic motion pictures during film festivals or special theatrical events. Personally, I want to see Casablanca, Macross: Do You Remember Love?, Metropolis (2001), Tron, Total Recall (1990) and Akira in the local cinemas.

*I am very glad to have seen the 1984 classic anime movie inside the movie theater.*

Going back to Nausicaä Of The Valley Of The Wind, I am very glad to have seen inside the cinema and if ever your local cinema will have it screened, I encourage you to go for it. There is absolutely no way that that the screens of your smartphone, your tablet, your PC monitor and your high-definition TV could match the grand visuals of Miyazaki’s film on the cinema’s big screen. Truly the cinema is better than streaming.

If you wish to join a group of movie enthusiasts and talk about cinema, cinematic trends, Blu-ray releases and more relevant stuff, visit the Movie Fans Worldwide Facebook group at https://www.facebook.com/groups/322857711779576

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DOE-Commissioned Survey Shows More Filipinos Favor Nuclear Power For Electricity

October 8, 2025September 30, 2025carlocarrasco

The movement towards a safe, nuclear-powered Philippines moved forward slightly as an official survey of the Social Weather Station (SWS) commissioned by the Department of Energy (DOE) revealed that more Filipinos favor the use of nuclear power for electricity, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

A bigger share of Filipinos surveyed for their insights on the potential of nuclear energy as among the sources of electricity in the country favor its use, the Department of Energy (DOE) said Monday.

Citing results of the DOE-commissioned Social Weather Station (SWS) survey on Public Perception Survey on Nuclear Energy conducted on May 6-24, 2025 to around 7,520 adult respondents nationwide, the department said over 70 percent of the respondents “believe that nuclear can deliver reliable electricity, reduce reliance on imported fuels, create jobs, and help fight climate change, while 76 percent of Filipinos are eager to learn more about nuclear energy.”

Survey results also showed that “net approval for rehabilitating the Bataan Nuclear Power Plant is at +66 nationwide, while support for building new nuclear plants stands at +45.”

“Support is also stronger among higher-income households, younger Filipinos, and those with higher levels of education,” the press release said.

Energy Secretary Sharon Garin said the strong public support reflected in this survey “tells us that Filipinos are ready to embrace nuclear energy as part of our energy future.”

“This gives us the confidence to move forward with careful, calibrated steps to ensure safe, secure, and sustainable development of nuclear power in the Philippines,” she added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you personally approve of the use of nuclear power for electricity? Are you convinced that nuclear power is the key to achieving abundant energy for the Philippines in the long-term?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Chinese National Arrested In Parañaque City For Human Trafficking and Cybercrime

October 7, 2025September 29, 2025carlocarrasco

Recently in the city of Parañaque, agents of the National Bureau of Investigation (NBI) apprehended a Chinese national for human trafficking and cybercrime, according to a news report by the Daily Tribune.

To put things in perspective, posted below is an excerpt from the news article of the Daily Tribune. Some parts in boldface…

The National Bureau of Investigation-Cybercrime Division (NBI-CCD) arrested a Chinese national identified as Wang Gang, alias Kelvin Lee, in a hotel in Parañaque City for violating Republic Act No. 9208 (Anti-Trafficking in Persons Act of 2003), as amended by R.A. No. 10364 and R.A. No. 11862, in relation to R.A. No. 10175 (Cybercrime Prevention Act of 2012).

The operation stemmed from an intelligence report identifying “Kelvin Lee” as being engaged in human trafficking activities, particularly the sexual exploitation of women. Lee was reportedly offering women to foreigners for sexual favors at ₱20,000 per night.

NBI-CCD agents, together with an informant, contacted Lee through social media. During the exchange, Lee confirmed that he was offering women for sexual services at rates ranging from ₱25,000 to ₱70,000. He later agreed to meet poseur customers at a Parañaque hotel, where he promised to deliver two Vietnamese women for ₱35,000 each, demanding a ₱5,000 downpayment to finalize the transaction.

On September 25, 2025, NBI-CCD agents positioned themselves near the agreed meeting place. When the poseur customers arrived, they were met by a Chinese national later identified as Wang. With him were two Vietnamese women.

Wang escorted the group to a hotel unit and, after receiving the entrapment money, was immediately placed under arrest by NBI-CCD operatives. The operation also led to the rescue of two Vietnamese trafficking victims.

The suspect was presented for inquest proceedings for the cited violations.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you considered that human trafficking and prostitution involving Chinese nationals are still being done secretly in the city? What do you think makes Parañaque a hot spot for criminal activities involving Chinese nationals?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Weaker Business Sentiment In The Philippines

October 7, 2025September 30, 2025carlocarrasco

Recently the Bangko Sentral ng Pilipinas (BSP) conduct its own survey which revealed that business sentiment in the Philippines became less optimistic during the 3^rd quarter, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

Philippine businesses turned less optimistic about the economy in the third quarter amid bad weather and sluggish demand during “ghost month,” a survey by the Bangko Sentral ng Pilipinas (BSP) showed.

Based on its latest Business Expectations Survey, the overall confidence index (CI) for businesses fell to 23.2% in the third quarter, down from the 28.8% in the second quarter and the 32.9% in the same quarter last year.

A positive CI indicates that more respondents are optimistic than pessimistic. However, this was the lowest CI seen since the 23.9% recorded in the fourth quarter of 2022. The business confidence index has been on a decline for three consecutive quarters.

“Philippine businesses were less optimistic about the economy in the third quarter of the year,” the BSP said in a statement. “Their dampened confidence was primarily attributed to the slack in demand during the ‘ghost month’ and the onset of the rainy and typhoon season.”

This year, “ghost month,” the seventh month in the Chinese lunar calendar, ran from Aug. 23 to Sept. 21. Some investors avoid making big investments or decisions during this period.

The country also experienced heavy rains and flooding brought by several tropical storms and the southwest monsoon from late July to early August.

“Global headwinds, such as higher US tariffs, geopolitical tensions, and weaker foreign demand, also weighed on business confidence,” the BSP said. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7.

At the same time, business confidence for the fourth quarter improved to 49.5% from 39.3% previously, as a surge in consumer spending is usually seen ahead of the holidays. The overall business outlook for the next 12 months eased to 48.1% from 51% the previous quarter.

“Despite the lower year-ahead CI, it remained positive, reflecting businesses’ continued optimism about near-term economic prospects,” the BSP said.

Businesses surveyed also see the peso appreciating against the US dollar in the fourth quarter and over the next 12 months but expect inflation to accelerate further.

“Firms also expect inflation over the next 12 months to remain within the National Government’s target range, indicating firmly anchored business inflation expectations. Within-target inflation supports investments and job creation,” the BSP said.

Businesses expect inflation to have settled at 2.1% in the third quarter, and picking up to 2.3% next quarter, and 2.4% in the next 12 months.

The central bank surveyed 1,523 firms nationwide, 580 of which are in the National Capital Region (NCR) and 943 in areas outside NCR, from July 4 to Aug. 17.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines will somehow slow down in the 4^th quarter?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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