Credit Suisse revised its gross domestic product (GDP) growth forecast for the Philippines this year to 6 percent from 6.4 percent on expectations of a slowdown in private consumption and a weak labor market.
“We now expect the Philippines’ GDP to surprise on the downside in 2017, which contrasts with our previous positive view on growth. We cut our 2017 GDP forecast to 6 percent, down from 6.4 percent,” it said in a report on Thursday.
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