Your Morning Fix

• The Philippine Statistics Authority (PSA) said wholesale goods inflation was 2.9% year-on-year in February, matching the January rate previous but a tad higher than a year earlier.
• The Department of Budget and Management (DBM) reported that infrastructure spending fell by 19.8% year on year to PHP 146.7 billion in December 2024 driven by high disbursements in 2023 and ongoing processing of payments for capital outlay projects in late 2024.
• The Philippine Statistics Authority (PSA) revised the 2024 economic growth rate to 5.7% from the initial 5.6%, aligning with global reporting standards. This growth surpassed the 5.5% in 2023 and was the highest since 2022.
• The US trade deficit shrank by 6.1% to USD 122.7 billion in February from a record USD 130.7 billion in January. However, imports remained high, as businesses stocked up early to avoid potential tariff increases.
• In March, the US services sector slowed to its weakest pace in nine months, with the ISM non-manufacturing PMI falling to 50.8. The decline was likely due to uncertainty surrounding trade policies.