{"id":24917,"date":"2014-09-05T13:11:27","date_gmt":"2014-09-05T05:11:27","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=24917"},"modified":"2014-09-05T22:48:10","modified_gmt":"2014-09-05T14:48:10","slug":"us-think-tank-sees-hike-in-ph-growth","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/09\/05\/us-think-tank-sees-hike-in-ph-growth\/","title":{"rendered":"US think tank sees hike in PH growth"},"content":{"rendered":"<figure id=\"attachment_10671\" aria-describedby=\"caption-attachment-10671\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/travel-tourism-economy.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-10671\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/travel-tourism-economy-300x300.jpg\" alt=\"ShutterStock image\" width=\"300\" height=\"300\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/travel-tourism-economy-300x300.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/travel-tourism-economy-150x150.jpg 150w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/travel-tourism-economy.jpg 1000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-10671\" class=\"wp-caption-text\">ShutterStock image<\/figcaption><\/figure>\n<p>MANILA &#8212; GlobalSource Partners, a think tank based in New York, raised its evaluation of the Philippine economic growth forecast to 6.1 percent after a good second quarter performance of the country.<\/p>\n<p>The said figure is a notch higher than the earlier prediction of 5.8 in July.<\/p>\n<p>\u201cWe think the economy is not yet out of the woods in terms of bearing the costs of port congestion, which will feed into prices and economic activity in the second half of 2014,\u201d analysts Romeo Bernardo and Christine Tang said in a market brief.<\/p>\n<p>Bernardo and Tang added,\u00a0\u201cAlthough the Planning Secretary continues to see a \u2018strong likelihood\u2019 of attaining the government\u2019s 6.5 to 7.5 percent target for the year, at this time we can only concede a return to our start-of-the-year 6.1 percent forecast from 5.8 percent for 2014 due mainly to the better second quarter growth performance,\u201d<\/p>\n<p>While the local economy grew at a slower pace compared in the same period last year, it is still considerably faster than the growth rate during the first quarter of the year which is at 5.6 percent.<\/p>\n<p>\u201cWe anticipated this given rising prices, especially of food. We are expecting this to slow down further as supply-side pressures continue to keep inflation elevated,\u201d the analysts said.<\/p>\n<p>\u201cIn particular, the two main sources of supply side risks at this time are reduced rice stocks, especially following a failed auction to bring in rice imports by September, and increased production costs due to port congestion that has yet to be satisfactorily resolved,\u201d they added.<\/p>\n<p>The 13 percent drop in public construction to \u201cimplementation bottlenecks\u201d is also something to be considered, according to Bernardo and Tang.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; GlobalSource Partners, a think tank based in New York, raised its evaluation of the Philippine economic growth forecast &hellip;<\/p>\n","protected":false},"author":44,"featured_media":10671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,17],"tags":[1599,7704],"class_list":["post-24917","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-news-w","tag-economy","tag-us-think-tank","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/24917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=24917"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/24917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/10671"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=24917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=24917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=24917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}