Kinks in the economy
Philippine Daily Inquirer
9:35 pm | Monday, April 15th, 2013
11 77 34
After the euphoria-inducing investment-grade rating given to the Philippines during the Lenten break, a string of not-so-good news has hit the economic front. Foreign direct investments—or money that goes into productive undertakings like tourism, agriculture, or industrial projects—registered a net inflow of $576 million in January, down by nearly half from $1.05 billion posted in January last year. Merchandise exports fell 15.6 percent in February, the steepest decline in more than a year, according to the National Statistics Office (NSO). Growth in manufacturing output likewise eased to 8.7 percent in February, after posting double-digit growth in the previous month, as domestic and global demand for local goods declined.
Read more: http://opinion.inquirer.net/50807/kinks -