S&P hikes 2018 growth forecast for PHL to 6.7%

S&P Global Ratings has bumped up its growth forecast for the Philippines inspired by bets that consumption will pick up further this year, enough to offset a slowdown in exports and a possible shock from global trade row risks.
“We have revised our GDP growth forecast for 2018 up to 6.7%. We expect an acceleration of consumption this year, driven by continued strong demographic trends plus a boost from the income tax cuts, to counter a moderation in export contribution in the second half of the year,” the debt watcher said in its monthly report published last week. — Melissa Luz T. Lopez