Halister News

(Bloomberg) -- Slowing domestic demand could prompt a second straight monthly decline in Philippines’ imports in January, economists’ expectations suggest.

• Imports probably fell 15.6% y/y following an unexpected 25.8% decline in Dec., according to the median est. in Bloomberg survey; ests. range from -23.3% to -2.5%; data due 9am local time tomorrow
• Economists also expect that a trade deficit of $220m has opened up, following a $603m surplus in Dec., a separate survey shows
• The country needs to consider domestic sources of growth in a fragile global environment, BSP governor Tetangco said earlier this month
• Other data released this month showed the nation’s exports fell 3.9% y/y in Jan., worse than the expected 0.4% gain
• Peso rose 0.1% vs dollar to 47.610 on Feb. 24 when data showed Dec. imports fell 25.8% y/y, the first contraction in seven months; pair is now at 46.330