StanChart cuts 2017 PH growth forecast

Banking giant Standard Chartered Bank has trimmed its 2017 growth forecast for the Philippines to 6.5 percent from 6.8 percent on account of a first-quarter slowdown.

“Earlier in the year we were looking at 6.8 percent. So I think its a bit of a mark to market issue because the first quarter is actually came in slower and simply by looking at our quarterly forecast, we expect growth lower at 6.5 percent this year,” Standard Chartered regional head of research Edward Lee said in a briefing in Makati City on Tuesday.