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3rd Quarter 2010
Leading Economic Indicators

Rise of Leading Economic Indicator (LEI) slows down in the third quarter

The composite leading economic indicator (LEI) continued to rise in the third quarter of 2010 but at a pace not as remarkable as in the first two quarters of the year.  The Q3 2010 LEI improved to negative 0.037 from a revised negative 0.090 in the second quarter of 2010.

Philippine Economy Posts a Scintillating
7.9 Percent GDP Growth

Despite the El Niño phenomenon that scorched the Agriculture sector, a synergistic confluence of factors resulted in two consecutive quarters of GDP growth of over 7.0 percent.  The peaceful national elections, improved investors confidence especially among local investors, the global economic recovery, increased capital expenditure of government and a low base fueled the domestic economy to a scintillating 7.9 percent growth in the second quarter of 2010 from 1.2 percent last year.  The last time we experienced two consecutive quarters of more than 7 percent GDP growth was in the first and second quarters 2004 (7,2 percent and 7.1 percent, respectively), also preceding a presidential election.  Together with an upwardly revised first quarter GDP growth of 7.8 percent (from 7.3 percent), the first semester sizzled to a 7.9 percent GDP growth, the highest semestral growth since 9.3 percent in the second semester of 1988.

Approved FDI declines in Q2 2010 after posting two consecutive quarters of increase

Total foreign direct investments (FDI) approved by the Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) in the second quarter of 2010 declined by 31.0 percent after posting two consecutive quarters of increase. Total FDI amounted PhP 13.8 billion from PhP 19.9 billion registered in the same period last year.

Bicol Region’s economy
records fastest growth

In 2009, out of the 17 regions in the country, 13 regions posted positive growths while four regions recorded reversals. Bicol Region’s economy posted the highest growth rate at 8.2 percent while CALABARZON recorded the worst growth rate of negative 1.6 percent.

 

Total health expenditure growing,
but is it enough?

The country’s total health expenditure showed improvements from 2005 to 2007,
but at decelerating growth rates
both at current and constant prices.  At current prices, the total outlay for health
went up from PHP198.4 billion in 2005
to PHP234.3 billion in 2007, registering a growth rate of 9.1 percent in 2006 and 8.3 percent in 2007.