Economy / Philippines
Macroeconomic Forecast Philippines
June 2005 | Macroeconomic ForecastsThe Philippines' economy weakened during the first quarter of 2005. Real GDP growth slowed to 4.6% y-o-y from the previous quarter's growth of 5.4%. All the expenditure accounts recorded slower growth, but investment was worst-hit, contracting by 4.1% compared with the fourth-quarter expansion of 16.5%. Year-on-year GDP growth rates have now fallen for four consecutive quarters. We expect the economy to expand 4.7% in 2005 compared with last year's growth of 6.1%.
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