Global banks raise PH growth outlook

CITING better quality in terms of economic development, global lenders have raised the Philippine growth outlook for 2016 since the country posted a 7.1- percent output expansion in the third quarter.

Japanese investment bank Nomura, UK-based Barclays and HSBC are forecasting a 6.8 percent to 6.9 percent growth for the whole of 2016, or at the upper end of the government’s 6 percent to 7 percent target.