Your Morning Fix

• US producer prices rose less than expected, with a 0.2% increase in December, as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.
• The S&P 500 edged higher while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the US economy.
• According to Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui, the BIR exceeded its downwardly revised PHP 2.85-trillion collection goal in 2024, mainly driven by the collection of value-added tax (VAT).
• New vehicle sales in the Philippines hit a record-high 467,252 in 2024, jumping by 8.7% in the preceding year, but fell short of the full-year target.
• Fitch Solutions’ unit BMI forecasts that the Philippines’ GDP growth will accelerate to 6.3% in 2025, driven by monetary policy easing and a rebound in private consumption.