Halister News

(Bloomberg) -- Growth in Philippines’ imports will probably rebound in March, according to economists’ estimates.

• Imports rose 8.9% y/y following 1.2% growth in Feb., median est. in Bloomberg survey shows; ests. range from +4.0% to +16.6%; data due at 9am local time tomorrow
  • Trade deficit seen widening to $1.4b from -%1.1b in Feb., another survey shows
• Import growth likely rebounded from the low in Feb. amid robust demand for capital and consumer goods, Standard Chartered writes in May 24 note
  • Sees trade deficit widening to $1.57b as domestic demand outpaced external demand
  • Expects steady pressure on the trade deficit during 2016
• Data earlier this month showed exports fell 15.1% in March, a steeper decline than est. of -9.1%
• Peso rose 3.2% vs dollar in March, best monthly performance since June 2012
• Currency is down 0.1% today at 46.830 per dollar