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Shares drop on weaker-than-expected GDP data
Business World Philippines
|May 09, 2025
STOCKS DROPPED on Thursday due to weaker-than-expected Philippine gross domestic product (GDP) growth last quarter and after the Federal Reserve warned of potential risks to the US economic outlook amid the Trump administration’s shifting policies.
‘The Philippine Stock Exchange index (PSEi) fell by 1.17% or 75.96 points to 6,389.49, while the broader all shares index went down by 0.74% or 28.03 points to 3,740.35.
“The local market went down as investors digested the Fed’s decision to keep policy rates unchanged and its gloomy outlook for the US economy amid President Donald J. Trump’ tariff policies,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis 0. Tantiangco said in a Viber message. “Investors also dealt with the Philippines’ first quarter 2025 GDP data, which posted a growth of 5.4%, below the government’s full-year target of 6% to 8%.”
This story is from the May 09, 2025 edition of Business World Philippines.
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