S&P maintains growth forecast for PH - News Summed Up

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S&P maintains growth forecast for PH

CREDIT rater S&P Global Ratings maintained its 6.4-percent growth forecast for the Philippines, noting that the second-quarter expansion is in line with its expectation. “GDP [gross domestic product]growth remained strong at 6.5 percent in Q2, in line with our estimate of potential growth,” it said in a report released on Tuesday. S&P’s 2017 forecast fell short of the government’s 6.5-percent to 7.5-percent target, representing a slowdown from last year’s actual GDP growth of 6.9 percent. The Philippine economy grew by 6.5 percent in the second quarter of the year, down from 7.1 percent a year earlier but firmer than the 6.4 percent recorded in the first three months of 2017. MAYVELIN U. CARABALLO

Source: Manila Times August 22, 2017 05:15 UTC