3:54 pm | Wednesday, June 25th, 2014
MANILA, Philippines — Growth in goods imported by the country — a reliable forward-looking indicator of economic performance — slowed down in April, but officials remained confident of a recovery in the months ahead.
A contraction in imports of electronic products, which are used as parts for goods that local firms eventually export, slightly offset increases in inward shipments of plastics, steel, and mineral products, among others.
“However, lower importation of capital goods slowed the increase in the value of imports,” Socioeconomic Planning Secretary Arsenio Balisacan said in a statement Wednesday.
Imported goods in April 2014 reached $5.3 billion, up by 3.0 percent from $5.2 billion in the same period last year, though slower than the 10.6-percent expansion in the previous month and the 7.6 percent growth in April 2013.
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