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

By Michelle V. Remo

Philippine Daily Inquirer

10:30 am | Monday, August 26th, 2013

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.

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.

“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).

Follow Us

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Short URL: http://business.inquirer.net/?p=140283

Tags: economy , Moody's , Philippines

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

seo tools