THE MARKET CALL (MAY 2018)
Here are the highlights of the May issue:
Macroeconomy
Led by strong investment spending of both the public and private sectors, Gross Domestic Product (GDP) got back into a faster growth track with a 6.8% uptick in Q1, up from 6.5% in both Q1 and Q4-2017, equaling China’s performance and next only to Vietnam in East Asia. Robust domestic demand and production should drive the PH economy to a faster growth in Q2 and beyond. Apart from infrastructure and capital goods spending, fuller impact of the income tax cut will likely support the economic expansion.