Pantheon Macroeconomics

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8th Aug 2024 19:32Emerging AsiaDaily Monitor

  • Base effects were behind the Philippines’ consensus-matching Q2 GDP print, nothing more.
  • Consumption is now in a shallow recession, while the post-Covid catch-up in capex is still struggling.
  • We have raised our forecasts, but still see GDP growth slowing to 5.4% this year and 5.2% in 2025.

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Keywords for: 9 August 2024 Emerging Asia Monitor Ignore the hype, consumption in the Philippines is in recession

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