The Philippine economy probably pulled back to an annual growth rate of about 7.2% in the second quarter from the first quarter's 7.8%, economists say. "Private consumption likely rose ... supported by slightly better remittances and accommodative monetary policy thanks to slowing inflation," said Trinh D. Nguyen, an HSBC regional economist in Hong Kong. The lower estimate is still above the government's target of 6% to 7%.

Related Summaries