THE MARKET CALL (NOVEMBER 2017)
Here are the highlights of the November issue:
Macroeconomy
GDP growth of 6.9% in Q3 exceeds expectations, bolstered by infrastructure spending and exports, supported by high investor confidence as PSEi chalks up nine records since October. We expect National Government (NG) infrastructure, capital goods and consumer spending to pick up further in H2 and together with accelerating exports, propelled by unexpectedly stronger world economy, should enable PH GDP growth to hit our 6.5% to 7% projection for the full year 2017.