Moody’s Analytics Eyes Philippine Q1 ’16 Output At 6.2%

Moody’s Analytics is optimistic on the Philippines first quarter 2016 output as domestic consumption and investment remain robust and seen to counter the negative external environment.

In a report, the economic research and analysis arm of Moody’s Corporation forecasts a 6.2 percent growth, as measured by gross domestic product (GDP), for the country in the first three months of the year, slightly lower than the 6.3 percent print in the last quarter of 2015.

“This will leave the Philippines with the best-performing economy in Southeast Asia,” it said.

The report explained that “unlike its regional counterparts, the Philippine economy has overcome the negative effects from slowing global demand.”

“Although the archipelago’s exports have been falling, private consumption and investment activity are expected to remain strong,” it added.

The government is scheduled to report the economy’s first quarter output on May 19, 2016.

Last year, the economy posted a 5.8 percent growth, slower than the 6.1 percent in 2014 on account of lower net exports and the lower-than-programmed government spending in the first quarter of the year.

The 6.3 percent growth in the last quarter of last year is the fastest last year, and helped the country post a 6.2 percent average growth in the last five years. (PNA) JMC/JSV/EDS