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MANILA, Philippines – Philippine economic growth is expected to slow further in the second quarter as persistent inflationary pressures and softer domestic demand continued to hold back the country’s recovery, according to the University of Asia and the Pacific (UA&P).
In its latest market comment, UA&P estimated that gross domestic product (GDP) expanded by 2.6 percent in the second quarter, slower than the 2.8 percent growth recorded in the first three months of the year.
READ: S&P cuts PH growth outlook to 4.1%
If realized, this would fall below the Marcos administration’s revised full-year growth target of 3.5 to 4.5 percent.
