Q3 GDP growth at 6.5% –– DBS

An economist of DBS Bank Ltd. forecasts a 6.5 percent output for the Philippine economy in the third quarter of 2017, the same as the previous quarter’s performance.

In a research note Monday, DBS Bank Group Research economist Gundy Cahyadi said upside risks on gross domestic product (GDP) are expected, citing the 19.9 percent expansion of bank loans in the thid quarter alone.

“This is indicative of strong domestic demand, even if the high base effects may mean investment growth is likely to have eased to 6.6 percent in the period,” he said.

“We expect consumption growth to also remain strong at 6.3 percent, partly supported by robust remittances flows, which are on track to reach a record-high of USD28 billion this year,” he added.