Pantheon Macroeconomics
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9th Aug 2022 14:38Emerging Asia, Daily Monitor
Philippine GDP shrank unexpectedly in Q2, as we warned, raising the odds of a BSP pause next week.
Consumption largely was to blame; the absence of a savings safety net—not inflation—is the real issue.
A further rise in investment cushioned the blow, but catch-up growth can’t be relied upon indefinitely.
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