The Philippine Statistics Authority (PSA) has revised estimates for the country’s economic performance, covering both 2023 and 2024, with updates on quarterly and annual figures by industry and expenditure.
Emerging markets and developing economies like the Philippines were to collectively post output growth measured as the gross domestic product (GDP) averaging 4 percent this year, but higher next year to 4.2 percent, according to the International Monetary Fund (IMF).
The government has retained the projected local output growth measured as the gross domestic product (GDP) at 7.6 percent in the third quarter of 2022, according to National Statistician Dennis Mapa.
The real estate sector reported strong momentum in the first half this year, bucking global economic volatility with broad-based growth across office, industrial, residential, and hospitality segments, according to new data from global property consultancy Santos Knight Frank.
Razon-led Prime Infrastructure Capital Corp. has consolidated its water-related assets in a ₱37.8 billion transaction, reinforcing its strategic foothold in the sector.
Property giant Ayala Land Inc. announced on MOnday its acquisition of the New World Hotel Makati, a landmark hospitality asset located in the heart of the country’s premier business and commercial district.
Century Pacific Food Inc. (CNPF), the country’s largest canned food company, is projecting sustained double-digit growth, targeting a 10 percent to 12 percent increase this year and 10 percent to 15 percent annual growth over the next three to five years—double the country’s GDP expansion.