FIRST-QUARTER Philippine economic growth likely topped 6 percent based on analysts' forecasts, with a January surge in Covid-19 cases having been offset by factors such as a further relaxation of health restrictions, increased business confidence and election-related spending.
Projections for the January-March period ranged from 5.8 to 7.0 percent with a 6.3 percent average. While slower than the 7.8-percent expansion posted in the fourth quarter of 2021, the forecasts represent a rebound from the 3.9-percent contraction recorded in the first quarter of last year.
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