News » PH shows sustained economic recovery – DOF

PH shows sustained economic recovery – DOF

PH shows sustained economic recovery – DOF

The partial recovery of the country’s merchandise trade reflected the gradual and calibrated reopening of the economy following the strict lockdowns in the second-quarter, the Department of Finance (DOF) said.

In an economic bulletin, Finance Undersecretary Gil Beltran said the contraction in merchandise trade continued to slow down from its deepest level of -59.5 per cent in April to -18.6 per cent in July this year. He noted that merchandise trade partially recovered in the subsequent months since the lowest negative growth in April, with -35.3 per cent in May, and -18.7 per cent in June.

Aside from merchandise trade, Beltran, who is also the DOF chief economist, also pointed out that the Philippines Purchasing Managers’ Index (PMI) hit its highest reading since February at 50.1 per cent last month.

PMI is an economic indicator derived from monthly surveys of private companies. An index reading above 50 indicates that the economy is growing, while below 50 an overall contraction.

Read more here. 

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.