PH growth rebounded in Q1 on consumer spending-ING

Netherlands-based financial giant ING has projected that the Philippine economy rebounded in the first quarter of the year, driven by a recovery in consumer spending supported by lower inflation.

- By DERCO ROSAL

However, economic growth is still expected to fall short of the government's sixto eight-percent target for 2025.

"We anticipate Philippine GDP [gross domestic product] growth accelerated to 5.9 percent year-over-year in the first quarter, primarily driven by a rebound in private consumption," said Deepali Bhargava, regional head of research for ING Asia-Pacific.

The government will report on first-quarter GDP performance on May 8.