Investment bank First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) widened their estimated range for Philippine economic growth in the first quarter by half a percentage point on improving global recovery and already robust domestic demand.

They now estimate growth in gross domestic product (GDP) at 6.5 percent to 7.0 percent, against a previous forecast of 6.5 percent for the first quarter of 2017.

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