Pernia bets on stronger H2 growth expected —Pernia

The Philippine economy is expected to grow stronger in the second semester of the year from 6.4 percent in the first half, Socioeconomic Planning Secretary Ernesto M. Pernia said Monday.

"I think so, I think it would be a better second half," he told reporters on the sidelines of the 28th National Statistics Month Opening Ceremony in Mandaluyong City.

The Cabinet official, however, declined to give specific numbers for both the third quarter and second half estimates.

The Philippine economy grew by 6.4 percent in the first quarter of the year and by 6.5 percent in the second quarter, bringing the first half gross domestic product (GDP) to 6.4 percent.

The growth drivers in the second half will be consumer spending and better merchandise exports, Pernia noted.

"There will be more spending and agriculture is also improving. Exports are improving. The global economic outlook is better than expected, so there are many tailwinds that could drive higher performance," he said.

This year, the government targets a 6.5- to 7.5-percent economic growth.

The Philippine Statistics Authority (PSA) is scheduled to release the third quarter economic growth figures on November 16. — VDS, GMA News