The Philippine economy grew by 5.7 per cent in the first quarter, much
slower than market expectations, as it continued to feel the lingering...
To some extent, stock
market action also implies
expectations for
slower economic growth, though interest rate signals, such as a flat yield curve, are more suggestive of
slow growth
than stock
market action is, and we've yet to see a substantial widening of credit spreads that would suggest imminent recession.