Thursday, 3 September 2009

Analysts see growth accelerating in the second semester

ECONOMIC GROWTH will likely accelerate in the remaining months of the year as domestic demand continues to strengthen on the back of benign inflation and steady growth in remittances, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in their joint publication, Market Call, which they released late last Wednesday.

This optimism was shared by the Congressional Planning and Budget Department (CPBD), the think tank of the House of Representatives which released its September report yesterday that showed revised, higher growth projections for the year.

FMIC and UA&P said growth in gross domestic product (GDP) will likely hit 2.5% and 4.5% in the third and fourth quarters of the year, respectively. Read more

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