The Philippine economy may have expanded at a slower pace in the first quarter from the previous three months, as strong consumer spending was offset by weak exports, a Reuters poll showed.
GDP was seen expanding a seasonally adjusted 1.6 % (percent) in January to March — from the previous quarter —according to the median of the poll — slower than 2 percent growth in the last three months of 2015.
The forecasts of six economists ranged from 0.9 % to 3.4 %, while seven others did not give quarter-on-quarter estimates.
From a year earlier, the economy likely grew 6.6 p% in the first quarter, faster than the previous quarter’s 6.3 % expansion, buoyed by a burst of campaign spending in the run-up to the May 9 presidential election.
For the full-year, economists predicted growth of 6.1 %, below the government’s 6.8-7.8 % growth target, but stronger than 5.8 % expansion last year.