economy - updates

Rappler's latest stories on economy

ARTICLE FINDER

Trump's favorite parts of U.S. economy are also the weakest

Jul 14, 2019 - 10:30 AM

Analysts say the very industries United States President Donald Trump has tried to help have become the weakest links in the otherwise solid economy

FRIEDENS, PA - JUNE 08: Mining equipment sits outside of the entrance to Corsa Coal's Acosta Deep Mine on June 8, 2017 in Friedens, Pennsylvania. The mine, which celebrated its grand opening on Thursday, is expected to create more than 70 new jobs and should produce 400,000 tons of metallurgical coal a year. Justin Merriman/Getty Images/AFP

Inflation slows down to 2.7% in June 2019

Jul 05, 2019 - 9:03 AM

(UPDATED) This is well within the government's target and the lowest inflation rate since September 2017

'Nobody reads the communique:' Top G20 moments

Jun 29, 2019 - 8:51 PM

Here are some of the top moments and bon-mots from the 2 day meeting hosted by Japan in the city of Osaka

CLIMATE CHANGE. Protesters wearing masks of world leaders including a giant paper mache Japanese Prime Minister Shinzo Abe (L) and US President Donald Trump demonstrate against climate change and coal use as world leaders convene at the G20 summit in Osaka on June 28, 2019.  Photo by Pak Yiu/AFP

Inflation, water crisis weaken consumer outlook in Q2 2019

Jun 25, 2019 - 7:25 PM

Consumers were pessimistic, but businesses were upbeat for the 2nd quarter of 2019, according to Bangko Sentral ng Pilipinas surveys

Bangko Sentral keeps interest rates steady, cuts inflation forecasts

Jun 20, 2019 - 5:50 PM

The Bangko Sentral ng Pilipinas maintains monetary policy settings 'for the time being' as it expects lower inflation in 2019 and 2020

RATES STEADY. Bangko Sentral ng Pilipinas Governor Benjamin Diokno holds a press briefing on June 20, 2019. Screenshot from BSP video

U.S. Fed opens door to rate cut amid growing 'uncertainties'

Jun 20, 2019 - 2:35 PM

The US Federal Reserve says trade friction and slowing growth worldwide have led many central bankers to feel the case for an interest rate cut has 'strengthened'

RATE UNCHANGED. United States Federal Reserve Chairman Jerome Powell during a press briefing following a Federal Open Market Committee meeting on March 20, 2019, in Washington, DC. Photo by Brendan Smialowski/AFP

Philippines to fast-track costlier projects ahead of income status upgrade

Jun 19, 2019 - 10:50 AM

Once the Philippines achieves upper middle income status, the government will no longer be eligible for Japan's Special Terms for Economic Partnership funding

LOANS. The Philippines will no longer be eligible for special loan funding terms with Japan once it upgrades to upper middle income status. File photo by Jire Carreon/Rappler

American paradox: Deficit widens even as economy grows

Jun 16, 2019 - 10:40 AM

July will mark the longest economic expansion in US history, with continual growth since mid-2009

BUSINESSES. Buildings, both residential and commercial, give form to the iconic Manhattan skyline on June 13, 2019 in New York City. Photo by Spencer Platt/Getty Images/AFP

Artificial intelligence-enhanced journalism offers a glimpse of the future of the knowledge economy

Jun 15, 2019 - 8:00 AM

One common question as intelligent technologies infiltrate various industries is how work and labor will be affected. In this case, who – or what – will do journalism in this AI-enhanced and automated world, and how will they do it?

China inflation hits highest level in 15 months

Jun 12, 2019 - 4:55 PM

Rising pork and fruit prices lead to higher inflation in China for May 2019

A customer (L) buys meat at a market in Shenyang in China's northeastern Liaoning province on June 12, 2019. - Inflation in China rose to its highest level in more than a year in May driven by surges in pork and fruit prices due to the African swine fever epidemic and bad weather, official data showed on June 12. (Photo by STR / AFP) / China OUT

Tourism's GDP share rises in 2018 despite Boracay closure

Jun 10, 2019 - 7:50 PM

The number of jobs in the tourism industry also inches up by 1.8% to 5.4 million in 2018

Photo by Boy Ryan B. Zabal

G20 says worsening trade wars pose risk to world economy

Jun 09, 2019 - 6:00 PM

IMF chief Christine Lagarde says trade conflicts pose the 'principal threat' to the global economic outlook

FINANCE EXPERTS. A woman walks past a banner for the G20 Finance Ministers and Central Bank Governors meeting in Fukuoka, Japan. Photo by Toshifumi Kitamura/AFP

IMF upgrades U.S. growth forecast but warns of rising risks

Jun 06, 2019 - 10:35 PM

The International Monetary Fund expects the United States economy to grow by 2.6% in 2019, but says the country must quickly resolve its trade war with China

Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California on May 14, 2019. - Global markets remain on red alert over a trade war between the two superpowers China and the US, that most observers warn could shatter global economic growth, and hurt demand for commodities like oil. (Photo by Mark RALSTON / AFP)

IMF's Lagarde: Resolving trade tensions 'immediate priority' for G20

Jun 06, 2019 - 6:00 PM

International Monetary Fund chief Christine Lagarde describes the United States and China's tit-for-tat tariffs as 'self-inflicted wounds that must be avoided'

Signs with the US flag and Chinese flag are seen outside a store selling foreign goods in Qingdao in China's eastern Shandong province on September 19, 2018. - China on September 18 announced tariffs on US goods worth $60 billion in retaliation for President Donald Trump's decision to slap duties on $200 billion in Chinese products next week. (Photo by STR / AFP) / China OUT

IMF slightly lowers China's 2019 GDP growth forecast to 6.2%

Jun 05, 2019 - 7:20 PM

The International Monetary Fund points to China's trade war with the United States, warning that 'growth will suffer'

This picture taken on May 14, 2019 shows workers making clothes for export at a factory in Quanzhou in China's eastern Fujian province. (Photo by STR / AFP) / China OUT

World Bank slashes 2019 growth as global trade slackens

Jun 05, 2019 - 9:25 AM

The greatest danger on the horizon is the prospect of worsening trade clashes between major world economies

OAKLAND, CALIFORNIA - MAY 13: A container ship sits in the San Francisco Bay on May 13, 2019 in Oakland, California. China retaliated to U.S. President Donald Trump's 25 percent tariffs on $250 billion of Chinese goods entering the United States with a 25 percent tariff on $60 billion of U.S. goods entering China. The Dow Jones Industrial Average plunged over 700 points on the news in morning trading. Justin Sullivan/Getty Images/AFP

Inflation inches up to 3.2% in May 2019

Jun 05, 2019 - 9:05 AM

(UPDATED) The Philippines' inflation rate rises in May 2019, the first time that it rose after 6 straight months of slowdowns. Did the central bank cut rates too soon?

Eurozone inflation falls sharply amid slowdown fears

Jun 04, 2019 - 5:39 PM

The latest data puts consumer prices in the 19-nation single currency bloc even further from the European Central Bank's inflation goal of just below 2.0%

ECB. This file photo show the headquarters of the European Central Bank. File photo by Daniel Roland/AFP

[ANALYSIS] US-China trade war: Where does the Philippines stand?

Jun 04, 2019 - 10:45 AM

If we can quickly lower the costs of doing business, beef up our competitiveness, and promote enough export-oriented manufacturers, the US-China trade war could turn into a blessing in disguise

General strike against inflation paralyzes Argentina

May 30, 2019 - 1:40 PM

Workers' unions in Argentina lead a general strike as they demand government action on rising inflation

An information board displays the status of flights, with almost all of them cancelled, at Jorge Newbery Airport on May 29, 2019 during a 24-hour general strike called by workers' unions to demand the government of Argentine President Mauricio Macri to take measures against inflation and keep the campaign promises. (Photo by Juan MABROMATA / AFP)

Venezuela claims 130,000% inflation, below international estimates

May 29, 2019 - 6:24 PM

Millions of people have fled the country as astronomical rises in the cost of consumer goods and broader economic woes have made food and basic supplies unobtainable for average people

OECD cuts global growth forecast as U.S.-China tensions rise

May 21, 2019 - 10:00 PM

OECD Secretary General Angel Gurria says there is 'an urgent need' for Washington and Beijing to bury their differences

Angel Gurria, General Secretary of the Organisation for Economic Co-operation and Development (OECD), gestures as he presents the OECD Economic Outlook at the OECD headquarters in Paris on May 21, 2019. - Global trade tensions and political uncertainty are weighing on the world's economy, the OECD warned on May 21, 2019, cutting its global growth forecast for this year to 3.3 percent, down from the 3.5 percent it predicted in November. (Photo by ERIC PIERMONT / AFP)

Where do leading Senate bets stand on key economic issues?

May 11, 2019 - 2:16 PM

(UPDATED) We track both their track record and statements

U.S.-China trade talks resume; Trump says deal still 'possible'

May 10, 2019 - 7:30 AM

US and Chinese representatives return to the bargaining table amid a sudden flare-up in hostilities, while President Donald Trump is still hopeful of salvaging a trade deal

Chinese Vice Premier Liu He waves as he leaves the Office of the United States Trade Representative after tariff negotiations in Washington DC on May 9, 2019. (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

EXPLAINER: What's in it for us if the PH has good credit ratings?

May 09, 2019 - 1:54 PM

The Philippines has its highest credit rating to date. But what does that mean for Filipinos?

[ANALYSIS] Duterte a ‘competent’ economic manager? Not so fast

May 09, 2019 - 12:34 PM

To thank Duterte for his 'political will and decisive action' on inflation is like thanking an arsonist for putting out a fire he created in the first place

Philippine GDP growth drops to 4-year low in Q1 2019

May 09, 2019 - 10:03 AM

(3rd UPDATE) The Philippines posts only 5.6% growth in the 1st quarter of 2019, as the government's infrastructure projects hit pause due to the delayed national budget approval

Rappler Talk: JC Punongbayan on PH economy and 2019 elections

May 08, 2019 - 6:26 PM

Tune in on Wednesday, May 8, as Rappler sits down with economist and columnist JC Punongbayan to discuss the Philippines' economic issues and how candidates are proposing to fix these problems

IMF chief says U.S.-China tensions 'threat' to world economy

May 07, 2019 - 8:50 PM

International Monetary Fund Managing Director Christine Lagarde also says recent 'rumors and tweets' make an agreement between the United States and China less likely

IMF Managing Director Christine Lagarde addresses the Paris Forum at the Economy Ministry in Paris on May 7, 2019. (Photo by ERIC PIERMONT / AFP)

Inflation again settles within target at 3% in April 2019

May 07, 2019 - 9:03 AM

(4th UPDATE) As inflation eases further in April, analysts are looking at whether the Bangko Sentral ng Pilipinas will cut the benchmark interest rate or the reserve requirement ratio

Vegetables at the Commonwealth Public Market on Sunday, April 28, 2019. Photo by Darren Langit/Rappler

U.S. Federal Reserve leaves key rate unchanged amid mixed economic signals

May 02, 2019 - 5:25 PM

The United States Federal Reserve votes unanimously to keep the benchmark interest rate in a range of 2.25% to 2.5%

Federal Reserve Board Chair Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC, on May1, 2019. - The US Federal Reserve decided Wednesday to keep its benchmark interest rate unchanged amid mixed signals about the direction of the US economy. (Photo by MANDEL NGAN / AFP)

Italy emerges from recession in 1st quarter of 2019

Apr 30, 2019 - 7:18 PM

The return to slender growth is heralded by surprisingly positive industrial output figures in January and February after 4 months of contraction

ITALY. Italy is Europe's second largest manufacturer and was the only European Union member in recession. Turin, Italy image via Shutterstock

S&P upgrades Philippine credit rating to BBB+

Apr 30, 2019 - 6:45 PM

(UPDATED) S&P upgrades the credit rating of the Philippines to BBB+ with a positive outlook on the back of the country's strong economic growth

Northern Mindanao economy grows to 7% in 2018

Apr 26, 2019 - 8:54 AM

Together with the prosperity, poverty incidence in the region also dipped to 25% from 35% in 2017

Bicol posts fastest economic growth among regions in 2018

Apr 25, 2019 - 9:55 PM

Bicol posts an impressive 8.9% growth in 2018, much higher than the national average of 6.2%

FASTEST GROWTH. Bicol Region registers the fastest GDP growth among all regions in the country. Shutterstock photo

Fitch cuts Philippine economic growth forecasts for 2019, 2020

Apr 24, 2019 - 9:10 PM

Fitch Ratings says the delayed passage of the 2019 budget, aggressive interest rate hikes, and the US-China trade war will weigh on the Philippines' economic growth

Inflation nightmare returns to haunt Zimbabwe

Apr 21, 2019 - 9:50 PM

Prices of goods and services in Zimbabwe are skyrocketing at rates unseen in a decade. 'It's a miracle how people are surviving,' says a resident.

Emily Maphosa, 78, cooks on March 2, 2019 at her home in Emakhandeni Bulawayo. - For years now Maphosa has been ordering most her groceries from South Africa using the service of informal couriers. Items are loaded in Johannesburg onto trailers attached to minibuses which make the 550 kilometres (340 miles) journey north to the border of Zimbabwe, where economic situation has dramatically deteriorated, pushing inflation above 50 percent, and shortages of household essentials have become widespread. (Photo by ZINYANGE AUNTONY / AFP)

Philippine exports drop, imports rise in February 2019

Apr 11, 2019 - 12:35 PM

(UPDATED) The Philippines' balance of trade in goods increased to a $2.79-billion deficit, from a $2.54-billion deficit year-on-year

IMF cuts global growth estimate to 3.3% as world economy loses steam

Apr 09, 2019 - 9:23 PM

The IMF's World Economic Outlook once again downgrades global growth to 3.3% for 2019, two tenths lower than the global crisis lender forecast in January and 4 tenths lower than October

IMF. In this file photo taken on September 4, 2018, the logo of the International Monetary Fund is seen at the IMF headquarters in Washington, DC. File photo by Jim Watson/AFP

Swedish firms bullish on Philippines, but frown on red tape

Apr 08, 2019 - 4:45 PM

Swedish firms doing business in the Philippines expect double-digit growth in the next 3 years, but also note that doing business in the country 'is not easy'

Inflation eases further to 3.3% in March 2019

Apr 05, 2019 - 9:05 AM

(4th UPDATE) Inflation again slows down in March. Will the central bank now cut interest rates?

Philippine economy may be one of few winners in 2019 regional slowdown

Apr 03, 2019 - 3:40 PM

The Asian Development Bank trims its 2019 growth prospects for the Philippines, but expects it to be among the few countries which may beat their 2018 figures


'Precarious' global rebound expected in late 2019 – IMF's Lagarde

Apr 03, 2019 - 1:15 PM

International Monetary Fund Managing Director Christine Lagarde says the world economy is vulnerable to shocks from Brexit, high debt levels, and trade tensions

International Monetary Fund (IMF) Managing Director Christine Lagarde speaks at the US Chamber of Commerce April 2, 2019, in Washington, DC. - Global growth in 2019 should be even slower than previously expected but a "precarious" rebound is likely later this year, the head of the International Monetary Fund said Tuesday. In a speech ahead of next week's spring meetings with the World Bank, IMF chief Christine Lagarde said the world economy was vulnerable to shocks from Brexit, high debt levels and trade tensions, as well as unease on financial markets. (Photo by Brendan Smialowski / AFP)

[ANALYSIS] How the Marcos-World Bank partnership brought PH economy to its knees

Apr 02, 2019 - 9:15 AM

The World Bank provided dictator Ferdinand Marcos a curtain of international legitimacy behind which he and his cronies plundered the public till

World Bank cuts 2019 Philippine growth outlook again

Apr 01, 2019 - 2:30 PM

The World Bank says the Philippines' delayed 2019 budget and El Niño are likely to hurt economic growth

Eurozone 'not resilient enough' to weather another economic crisis – IMF chief

Mar 28, 2019 - 9:33 PM

IMF Managing Director Christine Lagarde says the currency union 'is not resilient enough' to emerge unscathed from 'unexpected economic storms'

LAGARDE. International Monetary Fund chief Christine Lagarde in Frankfurt am Main, Germany, April 5, 2016. File photo by Daniel Roland/AFP

Apple's Tim Cook urges China to continue to open up its economy

Mar 23, 2019 - 6:28 PM

'We see that as essential not only for China to reach its full potential, but also for the global economy to thrive,' Tim Cook says

U.S. Fed now expects no rate hikes in 2019

Mar 21, 2019 - 1:50 PM

The United States Federal Reserve's surprising change of direction follows the 4 rate increases in 2018

Federal Reserve Chairman Jerome Powell during a press briefing following a Federal Open Market Committee meeting March 20, 2019 in Washington, DC. - Powell said Wednesday it could be "some time" before the US central bank will have to change the key lending rate. The Fed kept the benchmark borrowing rate unchanged and forecast no more increases this year. (Photo by Brendan Smialowski / AFP)

Fed to hold fire on interest rates as world economy slows

Mar 17, 2019 - 11:10 PM

Economists also expect the United States Federal Reserve to once again lower the number of rate hikes projected in 2019

U.S. FEDERAL RESERVE. Chairman Jerome Powell speaks during a news conference in Washington, DC, on March 21, 2018. File photo by Alex Wong/Getty Images/AFP

UK slashes 2019 economic growth forecast – budget

Mar 13, 2019 - 10:31 PM

The UK economy is forecast to grow by 1.2% in 2019, sharply down on the government's prediction of 1.6% in October 2018

UK ECONOMY British Chancellor of the Exchequer Philip Hammond leaves 11 Downing Street in London, November 23, 2016. File photo by Ben Stanstall/AFP