Close  

Philippine economy seen to have grown 7.2% in 2nd quarter

Philippine Stock Exchange index, as of August 23, 2013. Screengrab from http://www.pse.com.ph/stockMarket/home.html

MANILA, Philippines – After growing faster than target in the first quarter, the Philippine economy is again expected to have posted a robust growth in the second quarter.

Moody’s Analytics said the Philippines, driven by domestic demand and a consequently healthy performance of the manufacturing sector, likely grew by 7.2 percent in the second quarter from a year ago.

ADVERTISEMENT

Should the forecast be realized, the first half growth of the Philippine economy then averaged at 7.5 percent. In the first quarter, it grew by 7.8 percent.

The government has set its economic growth target for this year at a range of 6 to 7 percent.

FEATURED STORIES

“Manufacturing is growing at a healthy clip, driven entirely by domestic demand… Our tracking model suggests that GDP growth was only slightly weaker in the second quarter [compared with the first quarter],” Moody’s Analytics said in an outlook report released on Monday (August 26).

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: economy, Moody's, Philippines
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.