Overseas news
In the US, new factory orders dropped by 0.4% month-on-month in November 2024 from the 0.5% gain in the previous month. This happened amid weak demand for commercial aircraft and slowing business spending on equipment in the fourth quarter.
“Factory orders” refers to goods to be made by factories, which do not automatically equal sales. These are usually expressed as a dollar value, and can show whether orders are growing or slowing compared to a given period.
Meanwhile, US Federal Reserve (the Fed) Vice Chair of Supervision Michael Barr announced his resignation effective February 28 on Monday. This gives President-elect Donald Trump a chance to reshape the Fed.
The position of Vice Chair of Supervision is meant to enable greater responsibility, transparency, and accountability for the Fed’s supervision and regulation of the financial system.
Globally, prices of antimony are likely to hit record levels after China’s latest export ban. Reserves of this chemical, used in semiconductors and military applications, are found in only a few places worldwide.
Local developments
The Department of Agriculture (DA) is seeking to impose a maximum suggested retail price (MSRP) for imported rice. This is an effort to further lower rice prices and curb profiteering by traders.
As a highly significant food staple, rice is purchased by a vast majority of Filipinos and so its price is likely to have a significant impact on a typical family budget.
In addition, Maharlika Investment Corp. (MIC) President and Chief Executive Officer Rafael D. Consing Jr. said that the MIC is expected to make its first investment this quarter, most likely in the energy sector.
The MIC is a sovereign wealth fund that is expected to generate income for the government and help promote economic development.
These developments aren’t pointing strongly in a particular direction, and so you may be better off avoiding big decisions for now.
