THE PHILIPPINES got the highest score among selected emerging Asian economies in the Organization of Economic Cooperation and Development’s latest business growth projections.
According to the latest “Asian Business Cycle Quarterly” of the OECD, an international organization pushing for policies and measures that promote economic and social development, indicators point to expansion of businesses in the Philippines in the very short term that is in the next quarter.
“A strong recovery is ongoing in the Philippines driven by strong exports and improving business sentiment,” the OECD said in the paper.
This forecast is consistent with projections by the Philippine government that the economy would sustain growth in 2011.
Results of the OECD study showed the Philippines getting the highest score in terms of leading-composite indicators among selected emerging Asian countries.
The leading composite indicator for the Philippines stood at 103.3 points for the fourth quarter of 2010. Indonesia’s was 100.8; Malaysia, 99.1; Singapore, 100.7; Thailand, 103; China 101.9 and India 100.6.
Leading composite indicators—which include consumer demand, commodity prices, corporate profits, capital investments, stock prices and business expectations surveys—show the potential state of an economy and its business sector.
The OECD said a general expectation of expanding businesses was fit for the Philippines.
The outlook for developing countries in Asia is generally rosy, taking into account their performance so far this year. Unlike industrialized countries in the West, emerging Asian economies have posted robust growth rates this year, thus leading the world’s recovery from the global economic turmoil that peaked in 2009.
In the case of the Philippines, it grew by 7.5 percent in the first three quarters of 2010. Economic officials credited this to improved export income, rising remittances that fuel household consumption, and increase in investments.
The optimistic outlook on emerging Asian markets is the reason for the surge in foreign capital inflows to Asia.
“A strong recovery is ongoing in the Philippines driven by strong exports and improving business sentiment,” the OECD said in the paper.
This forecast is consistent with projections by the Philippine government that the economy would sustain growth in 2011.
Results of the OECD study showed the Philippines getting the highest score in terms of leading-composite indicators among selected emerging Asian countries.
The leading composite indicator for the Philippines stood at 103.3 points for the fourth quarter of 2010. Indonesia’s was 100.8; Malaysia, 99.1; Singapore, 100.7; Thailand, 103; China 101.9 and India 100.6.
Leading composite indicators—which include consumer demand, commodity prices, corporate profits, capital investments, stock prices and business expectations surveys—show the potential state of an economy and its business sector.
The OECD said a general expectation of expanding businesses was fit for the Philippines.
The outlook for developing countries in Asia is generally rosy, taking into account their performance so far this year. Unlike industrialized countries in the West, emerging Asian economies have posted robust growth rates this year, thus leading the world’s recovery from the global economic turmoil that peaked in 2009.
In the case of the Philippines, it grew by 7.5 percent in the first three quarters of 2010. Economic officials credited this to improved export income, rising remittances that fuel household consumption, and increase in investments.
The optimistic outlook on emerging Asian markets is the reason for the surge in foreign capital inflows to Asia.
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