THE MARKET CALL (JULY 2017)
Here are the highlights of the July issue:
Macroeconomy
Robust spending on infrastructure and other capital outlays jumped by 31.4% in May, marking a significant turnaround from April’s 21.2% decline. This, along with other initial economic data up to June, suggests that the economy should improve on its 6.4% GDP growth in Q1. Strong investment spending and resurgent manufacturing, along with improving external demand, will continue to support the country’s fast economic growth. Speedier NG disbursements and higher peso-equivalent of the remittances should likewise push further the expansion to be significantly better than the Q1 GDP growth.