GDP forecasts trimmed after Q3 data

Foreign and local analysts further slashed their Philippine economic growth expectations for this year, a day after the government announced that the country’s gross domestic product (GDP) fell by 10 percent in the first three quarters of the year.

Revised GDP forecasts provided by Fitch Solutions, Bank of the Philippine Islands (BPI), Capital Economics, ING Bank Manila and Rizal Commercial Banking Corp. (RCBC) analysts ranged from -8.1 to -10.8 percent.