Philippine exports April growth loses momentum

Philippine exports growth weakened overall in April from a year earlier, with declines in a major sector—the electronics segment—offsetting gains made by other traditionally strong products such as processed food, machinery, clothing accessories and furniture, official data shows.

The slowdown failed analyst expectations, and while optimism for a possible recovery during the second half of the year remains as the economies of the country’s trading partners are expected to gain pace, a local truck ban currently in place is seen curbing the extent of any rebound.