FMIC revises PH growth outlook upward

FIRST Metro Investment Corp. (FMIC), the investment arm of Metrobank, has joined a growing chorus of analysts and institutions in adjusting its GDP growth forecast for the country upward, seeing strong investment and public and private consumption expanding the economy by as much as 7 percent in 2016.

FMIC on Monday said the Philippine economy would expand by 6.5 percent to 7 percent until the end of this year, higher than the investment firm’s previous forecast of 6.0 percent to 6.5 percent GDP growth.