Higher June spending seen boosting Q2 GDP

A private bank analyst said higher government spending recorded in June must have also helped speed up economic growth in the second quarter of 2015.

“We welcome this development as it means we made the right decision in retaining our full-year growth forecast of 6.5 percent when the first-quarter 2015 GDP [gross domestic product growth rate of 5.2 percent] disappointed the market last May,” said Emilio Neri Jr., lead economist and vice president at the Bank of the Philippine Islands (BPI).