Demand for Capital Goods Raises PH Imports to Highest Level

Philippine imports climbed to their highest level in almost two decades, followed by a surge in demand of capital goods that signaled strength in domestic activity in the second quarter. Imports climbed 39.3 percent in May, the biggest annual gain for any month since 1994. Electronics, the top import item, rose 44.5 percent from a year earlier to USD1.67 billion, reports