THE MARKET CALL (MARCH 2019)
Here are the highlights of the March issue:
Macroeconomy
Economic expansion should pick up in Q1 from its 2018 pace driven by heightened infrastructure and renewed consumer spending. The fall of inflation to within BSP target range augurs well for consumer demand, besides the spill-over effect of election-related spending. The downside risk from yet unapproved fiscal budget could have a negative, albeit minimal impact on infrastructure spending in Q1.