PH growth forecast cut to 5.7% – StanChart

Standard Chartered Bank cut its growth forecast for the Philippine economy this year to 5.7 percent from a previous projection of 6 percent largely on account of the slowdown in China’s economic performance.

StanChart’s forecast is slower than last year’s 6.1 percent expansion in Philippine gross domestic product (GDP), and falls below the 7 percent to 8 percent growth assumption for 2015 by the government.