Posted 9/30/2023, 4:00:00 PM

ANZ Slashes Philippines' 2023 GDP Growth Forecast to 5% on Weak Q2, Slowing Consumption, High Inflation

ANZ lowered Philippines' GDP growth forecast for 2023 to 5% from 5.8% due to weaker than expected Q2 performance.
Consumption growth is slowing due to moderating remittances, uninspiring job creation, and tighter bank lending.
Inflation outlook has deteriorated due to rising food and energy prices; expected to fall back to 2-4% target range only in Q1 2024.
BSP likely to keep policy rate unchanged at 6.25% through end of 2024 before cutting by 50 bps in 2025.
Exports face weaker demand outlook in 2024 although tech cycle is reviving.

philstar.com

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9/15/2023

JPMorgan and ANZ Upbeat on China Growth Outlook, Raise 2023 GDP Forecasts on Policy Support

J.P.Morgan and ANZ have raised their 2023 economic growth forecast for China to 5% and 5.1% respectively, citing a notable recovery in retail sales and a rise in service activity.