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Philippines: Weak exports tame Q2 GDP growth – analysts
Philippines: Weak exports tame Q2 GDP growth – analysts
Monday, August 14, 2016 – Analysts expect weak exports to have tamed a still fast economic growth in the second quarter.
In separate research notes, Moody’s Analytics and Singapore-based DBS Ltd. said growth, as measured by gross domestic product (GDP), could fall below the 6.9 percent recorded in the first three months of the year.
Moody’s expect the Philippine economy to have grown 6.8 percent year on year while DBS sees Philippine GDP expanding by 6.1 percent for April to June this year.
Both Moody’s and DBS said the government remains on track to meet its six- to seven-percent target for the year, which was downscaled from the original projection after the Duterte administration took over.
While still a “slight” slowdown, the unit of debt rater Moody’s Investors Service said the local economy effectively “shook off” global uncertainties as well as that brought about by the change in government last May. Read More?