Unicapital Expects Faster Economic Growth in Q2

The Philippine economy is expected to grow faster in the second quarter than the previous quarter due to election spending and low inflation, according to financial services provider Unicapital Group.

- By Louella Desiderio

Unicapital Securities Inc. president and CEO Ben Thomas Pañares told The STAR the economy likely expanded at a faster pace in the second quarter compared to the first quarter's 5.4 percent growth.

"It's likely going to be better," he said.

While the first quarter gross domestic product growth was slightly faster than the previous quarter's 5.3 percent expansion, it was slower than the 5.9 percent growth in the same period last year.

The first quarter growth performance also fell below the government's six to eight percent target for the year.

"We do view that there's a lot of positives going on, at least in Q2 (second quarter)," Pañares said.