PH imports growth slows to 4.1% in Aug from 23% in July

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Philippine merchandise imports growth slowed sharply in August to 4.1 percent year-on-year from a revised 23-percent increase in July, the latest government data showed on Tuesday.

The total value of imports in August stood at $6.082 billion, against $5.845 billion a year earlier, according to preliminary figures from the Philippine Statistics Authority (PSA).

The government report did not explain the slowdown from July. Focusing on the year-on-year improvement, the PSA report said five of the 10 major imported commodities posted positive performance.  MAYVELIN U. CARABALLO

MC/NT

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