PH economy seen growing at 5.3% in 1Q

The Philippine economy is likely to grow by 5.3 percent in the first quarter of 2012, as it is emitting signals that it is back on track from the low 3.7-percent gross domestic product (GDP) growth last year, according to the April issue of The Market Call, a newsletter published by the First Metro Investment Corp. and the University of Asia and the Pacific Capital Markets Research.
"With both external and internal demand factors working to its advantage, the economy is expected to expand by some 5.3 percent in Q1 [first quarter] with further accelerations in the subsequent quarters," the newsletter said.
It added that early economic indicators such as the Monthly Integrated Survey of Selected Industries (MISSI), inflation rate, government spending, tax revenues, interest rates, exports, and exchange rates are needed to be taken seriously to attain the expected 5-percent growth.

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