The Philippines should prove strong enough to weather the global economic headwinds even though the pessimism the phenomenon has bred among the various economic actors spill over and contaminate even the locals.
An analysis published jointly by the First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said more recent economic numbers indicate the Philippines able to withstand so-called volatilities expected throughout 2016.
“While global pessimism threatens to spill over into the Philippine economy, the economic data released last December would suggest that the economy may have sufficient strength to weather the troubled international waters,” the researchers said. The
economic indicators include improved data on employment and below-target inflation outcomes in the country.
“Data on employment, which usually lags economic activity since employers would hire new workers only when they are convinced they have a more permanent need for workers, would tend to point to an improving economic situation,” according to FMIC and the UA&P.
“A further confirmation in the survey slated for January 2016 would cement this assessment,” they added.
National government spending, which was to speed up in the first half of the year as the presidential elections nears, should also help boost the country’s output growth numbers even though some of the country’s peers and neighbors were seen to slow down.