Philippine economic growth is forecast to have accelerated in April-June from the previous three months, a Reuters poll showed, as strong domestic demand and a rebound in government spending probably offset sluggish exports. Gross domestic product (GDP) is seen rising 2.0 percent in the second quarter from the previous quarter, according to the median of the poll. This compared with the 0.3 percent quarter-on-quarter growth in the March quarter, which was the weakest in six years. Five economists forecast expansions ranging from 0.5 percent to 2.6 percent while 12 others did not give quarter-on-quarter forecasts.
On an annual basis, the economy likely grew 5.6 percent in the June quarter, slightly better than the previous quarter's three-year low of 5.2 percent. For all of 2015, economists predicted growth of 6.0 percent, up slightly from last year's 6.1 percent, but below the government's 7-8 percent GDP target this year. The GDP report is due on Thursday, August 27 at 0200 GMT. To track Philippine economic data, Philippine central bank keeps rates steady, cuts 2015 CPI forecast Philippines seeks approval for budget, Q2 spending to pick up Philippines' exports fall for third month in a row in June Philippines says can still hit low end of 2015 GDP growth target.
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