Philippine imports probably grew at a slower pace in November as global crude prices eased and purchases of electronic items weakened, economists said.          

Imports probably grew 9.55 percent year-on-year in November, according to a median estimate in an ABS-CBN survey of four economists.               

In October, imports rose 12.5 percent from a year earlier to $4.679 billion, driven by purchases of electronic and oil products. Total imports for the 10 months to October grew 9.2 percent to $42.858 billion. The National Statistics Office will release the imports data on January 25.          

“I’m expecting imports to rise 9.4 percent to $4.35 billion. Lower oil prices and slowing imports of electronic/electrical products reflecting weaker growth in electronics exports should be the main factors behind the slower rise in November,” said IFR economist George Worthington who is based in Australia.         

“For 2006 so far, energy-related products were the strongest drivers of growth. With lower oil prices, imports growth should ease somewhat in early 2007, though any gains will again lift import growth in coming months,” he said. Worthington expects the Philippines to post a trade deficit of $330 million in November.        

Singapore-based DBS was the most bullish as it expected imports in November to grow 12.4 percent year-on-year. It forecast the Philippines to record a trade surplus of $4.68 billion in November. The country recorded a trade deficit of $481 million for October, slightly smaller than the deficit of $525 million in the same month last year.

CONGRESS inched closer to ratifying the final version of the 2007 budget bill after the bicameral conference committee on Wednesday rendered a report endorsing that the money measure be submitted to Malacañang for signing into law by President Arroyo.

Philippine imports probably grew at a slower pace in November as global crude prices eased and purchases of electronic items weakened, economists said.

PRESIDENT Arroyo will apprise world leaders and top business executives of developments in the evolution of the Association of Southeast Asian Nations (Asean) into a “formidable bloc” when she attends the Annual Meeting of the World Economic Forum in Davos, Switzerland this week.

THE pace of disposal by sale of banks’ nonperforming assets is expected to quicken this year with the banks’ agreement to lower prices of foreclosed assets offered for sale.

THE Filipino consumers’ confidence level is at an all-time high with their worries over the economy, job prospects, and political stability continually easing, according to findings of global consumer research outfit ACNielsen on Wednesday.

IT is possible the Arroyo government might miss last year’s economic target, as initial figures indicate a gross domestic product (GDP) growth of as low as 5.3 percent and up to 5.6 percent, a senior planning official on Wednesday said.

WHOEVER comes out the beneficial owner or owners of 33,133,064 shares in San Miguel Corp. will no longer get a seat on the board of San Miguel.