The Philippine cost-cutting
measure could have stretched out at a faster rate in the second quarter in contrast
to 5.7 percent growth in first quarter.
Philippine economy growths have
expanded up to 6.7 percentages from the month of April to June of this year,
based from a UK Barclays.
“Ongoing strength in the private investment
and consumption along with an inventory spring back should take development
higher,”
A Singapore based Bank projected
a slower forecast growth in the Philippines. They said that the country’s
economy may grow 6.3 percent in second quarter.
A data released points a faster growth
in GDP in 2Q14 from previous quarter. The export growth, has been disappointing
this year, came in strong at over 20 percent year-on-year in June.
“Note that strong manufacturing
was one key factor that led to the 7.2 percent GDP growth in 2013. Another year
of strong manufacturing sector is still on the cards this year, if export
growth were to sustain its current trend,”
The disappointing 5.7 economic
growth percentage in first quarter was attributed due to the effects of
typhoons in 2013, resulted to billions worth of damages in agriculture and infrastructure.
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