THE MARKET CALL (OCTOBER 2017)
Here are the highlights of the October issue:
Macroeconomy
We expect PH GDP to expand by at least 6.5% in Q3 as domestic demand and external demand (exports) propel growth. Domestic demand will count on NG spending which in August soared over 10% for 4th successive month, and on consumer spending which banks on OFW peso remittances, already on 3rd month of above-12% gains. Exports—reflecting external demand--returned into the double-digit growth territory as advanced economies expand above expectations.