The annual inflation rate of the Philippines reached 1.7% this past September led by higher food prices, according to a BusinessWorld news report. Take note that August inflation was at 1.5% and business sentiment in the Philippines has weakened.
To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…
Philippine annual inflation quickened for a second month, but it was still below the central bank’s 2% to 4% comfort range for the year, reinforcing expectations that a policy decision this week will be a close call between cutting rates and pausing.
The consumer price index rose 1.7% in September led by higher food prices, up from August’s 1.5%, the statistics agency said on Tuesday. It was below the 2.0% median forecast in a Reuters poll, and brought year-to-date average inflation to 1.7%.
The September rate, the fastest since March, comes just days before the central bank’s penultimate policy meeting of the year on Thursday.
“For the upcoming policy meeting, the Monetary Board will review newly available information and reassess the impact of prior monetary actions in light of evolving economic conditions and their implications for inflation and growth,” the Philippine central bank said in a statement.
At its August policy meeting, the Bangko Sentral ng Pilipinas (BSP) signalled another reduction was still possible this year before it concludes its easing cycle.
Let me end this post by asking you readers: What is your reaction to this development? Do you think the inflation rate of the Philippines will reach as high as 3% by the end of 2025? Do you consider inflation as a major factor behind the modest economic growth of the country this year?
Welcome back my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?
I recommend you check out the following videos I found.
#1 Heavy Steaks in Japan – If you were able to visit Japan, did you crave for steak as a meal there? I found another video by the Japanese Food Noodles channel that showed another place to enjoy steak. Apart from seeing the food cooked and served, there is something new to learn from the individuals who managed the food joint. Watch and learn from the video below.
#2 Overtourism in Japan – In Japan, there is a massive number for foreign tourists who kept coming in and spending quality time there. The number of visitors from overseas is so great, it is resulting in a mix of positive and negative results. While certain local businesses are benefiting from foreign tourists, others are experiencing negative effects such as littering, worsening traffic congestion and even the violation of privacy. Let’s be clear: overtourism in Japan is undeniably real and there are some foreign tourists who could not behave themselves. Watch and learn from the Nippon TV video below.
#3 The Twilight Zone Movie Tragedy and Trial – Have you ever seen the 1983 film Twilight Zone: The Movie? I did but not inside the cinema. I previously blogged about retrospective videos about it. The movie was an ambitious revival of The Twilight Zone franchise and among the directors who worked on it (note: the film had short stories) were Steven Spielberg and John Landis. The movie was mired in strong controversy due to the tragedy that happened in Landis’ segment starring Vic Morrow who died along with two minors her carried with him. Not only did deaths and injuries happen, there were also some violations of established laws committed. To find out what happened and how the trial against the filmmakers ultimately turned out, watch the video below.
#4 Trump confronts the wicked United Nations and other evil stakeholders – Recently US President Donald Trump spoke to the members of the wicked United Nations in their building in New York City. He bravely confronted the many evil stakeholders there – the Islamo-Leftists, the socialists, the terrorist-loving members, the illegal immigration advocates and climate change zealots – and spoke the truth that they refused to realize. Watch and learn from the videos below.
#5 Top Secret! revisited – While the 1984 ZAZ comedy Top Secret! never came close to achieving the success and impact of 1980’s Airplane!, the movie still went on to entertain others who were born after it was released. Top Secret! is also the cinematic debut of the late Val Kilmer and it was an early showcase of his artistry and creativity. That being said, it is not surprising that there are lots of reaction videos of Top Secret! on YouTube and I found three entertaining videos for you to enjoy. Watch the videos below.
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?
Welcome back fellow geeks, Blu-ray collectors and movie buffs!
If you are looking for another Steven Spielberg film to be added to your 4K Blu-ray collection, be aware that the 2002 sci-fi film Minority Report (starring Tom Cruise) will be released on 4K Blu-ray format on December 9, 2025.
This is what the regular edition of Minority Report 4K Blu-ray looks like.
The good news here is that Minority Report will have native 4K visuals and pre-orders for the 4K Blu-ray – specifically the regular edition and the Steelbook edition – are being accepted online here and here.
For the newcomers reading this, the only way to watch Minority Report in high-definition was its 2010 Blu-ray release. The upcoming 4K Blu-ray will have one 4K Blu-ray disc containing the film and a Blu-ray disc containing extra stuff.
To put things in perspective, posted below is the excerpt of the Blu-ray.com announcement. Some parts in boldface…
Paramount Home Media Distribution will release on 4K Blu-ray Steven Spielberg’s Minority Report (2002), starring Tom Cruise, Colin Farrell, Samantha Morton, Max von Sydow, and Lois Smith. The release is scheduled to arrive on the market on December 9.
Description: John Anderton, a Washington, D.C. detective in the year 2054 working in “Precrime,” a special unit of the police department that arrests murderers before they have committed the actual crime. Precrime bases its work on the visions of three psychics or “precogs” whose prophecies of future events are never in error. When Anderton discovers that he has been identified as the future killer of a man he’s never met, he is forced to become a fugitive from his own colleagues as he tries to uncover the mystery of the victim-to-be’s identity.
Special Features and Technical Specs:
DISC ONE – 4K BLU-RAY
DOLBY VISION/HDR PRESENTATION OF THE FILM
DTS-HD Master Audio 5.1 track
Optional English, Spanish, and French subtitles for the main feature
DISC TWO – BLU-RAY
The Future According to Steven Spielberg
Inside the World of Precrime
Philip K. Dick, Steven Spielberg, and Minority Report
Minority Report: Future Realized
Minority Report: Props of the Future
Highlights From Minority Report: From the Set
Minority Report: Commercials of the Future
Previz Sequences
From Story to Screen
Deconstructing Minority Report
The Stunts of Minority Report
ILM and Minority Report
Final Report
Production Concepts
Storyboard Sequences
Original Trailers
The rear of the Minority Report 4K Blu-ray.
Posted below are the technical details of Minority Report 4K Blu-ray from its Blu-ray.com page.
Video
Codec: HEVC / H.265
Resolution: Native 4K (2160p)
HDR: Dolby Vision, HDR10
Aspect ratio: 2.39:1
Original aspect ratio: 2.39:1
Audio
English: DTS-HD Master Audio 5.1
French: Dolby Digital 5.1
Spanish: Dolby Digital 2.0
Subtitles – English, English SDH, French, Spanish
Discs – 4K Ultra HD, Blu-ray Disc, Two-disc set (1 BD-50)
Digital – Digital copy included
Packaging – Slipcover in original pressing
Playback – 4K Blu-ray: Region free
I am personally interested in the upcoming 4K Blu-ray release of Minority Report. I first saw that movie at the local cinema (note: it has officially closed down after years of neglect and deterioration) and I ended up being entertained and intrigued by its tone and Spielberg’s direction. Without spoiling the plot, I can say that the film is pretty cerebral and its scenes of spectacle were pay-offs to the build-ups.
Inspired by one of the sci-fi tales of the late Philip K. Dick, Minority Report is not exactly a film to watch for fun only as it will compel you to think about the conflicts between destiny and predictions, crime and law enforcement, and most notably the debate about arresting people who only thought about committing crime but did not execute it. Another good reason to watch it is the combined talents of Spielberg and Tom Cruise, and there is a lot of depth – including expository dialogue – to the script.
The scheduled December 2025 release of the 4K Blu-ray of Minority Report is quite timely. Today, a lot of moviegoers and some fans of Tom Cruise felt burned up with the Mission: Impossible film franchise. As for Spielberg, there has been nothing groundbreaking nor interesting about the films he directed over the past several years. Times like these, you’ll have to go back to the previous works of Spielberg and Cruise to enjoy something and Minority Report can fill that void.
Tom Cruise, Samantha Morton and Steven Spielberg behind the scenes. (photo source – IMDB.com)
If you are a 4K Blu-ray collector who has not yet seen Minority Report, better avoid watching any of the movie reaction videos or retro reviews or retrospectives of the film on YouTube.
Watch out for Minority Report 4K Blu-ray on December 9, 2025.
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
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?
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.
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?
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?
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
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
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?
Recently the Bangko Sentral ng Pilipinas (BSP) conduct its own survey which revealed that business sentiment in the Philippines became less optimistic during the 3rd 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 4th quarter?
Author Carlo Carrasco 