According to the July issue of The Market Call, the latest estimates on gross domestic product (GDP) and inflation point to another banner year for the Philippine economy. The economy is estimated to have grown by at least 7.5 percent in the second quarter, bringing the average for the first semester to 7.6 percent, analysts of the publication said. The official growth target for this year has been set between 6 and 7 percent. “The manufacturing sector should combine with the construction and mining sectors to lead GDP growth in the second quarter to 7.5 percent or higher. Employment figures should improve in the second half as the growth momentum in manufacturing gains traction,” said The Market Call, a monthly publication of First Metro Investments Corp. and the University of Asia and the Pacific. The publication likewise expects the rate of rise in consumer prices to be very moderate due to favorable farm output. Inflation will likely settle at 2.7 percent in the third quarter, thus bringing the average for the first nine months of the year to 2.8 percent, it said. The government expects inflation to range between 3 and 5 percent this year.
Posted on: Tue, 30 Jul 2013 19:32:39 +0000
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