GDP (YoY) (Q1)
Event Data
| Metric | Value |
|---|---|
| Actual | 6.4% ↑ |
| Forecast | 6.1% |
| Previous | 7.1% |
Analysis
The actual value of 6.4% exceeded the forecast of 6.1%, indicating positive economic performance. This can strengthen the PHP currency and may lead to increased investor confidence in Philippines's economy.
GDP (YoY) (Q1) is an important economic indicator for Philippines. This data is closely monitored by traders, investors, and policymakers to assess the health of the economy and make informed decisions. Regular monitoring of such indicators helps market participants anticipate central bank policy changes and economic trends.
Frequently Asked Questions
What is GDP (YoY) (Q1)?
GDP (YoY) (Q1) is an economic indicator released by Philippines that measures important aspects of the economy. This data is closely monitored by traders, investors, and policymakers to gauge economic health and make informed decisions.
Why is this event important?
This event has Low importance for financial markets. It provides valuable insights into the economic conditions of Philippines.
How did the actual value compare to forecasts?
The actual value (6.4%) exceeded the forecast (6.1%), which is generally viewed as a positive sign for the economy. This can strengthen the PHP currency.
When was this data released?
This economic data was released on November 5, 2023 at 02:00 UTC. Economic calendars help traders plan around these releases to manage risk and capitalize on market movements.
