Below-target full-year growth now more likely

By The Manila Times

May 09, 2026 12:17 am

SLOWER-THAN-EXPECTED first-quarter growth has underlined expectations of a below-target outcome for 2026, with Fitch unit BMI revising its forecast to 4.2 percent from 4.7 percent and Bank of America (BofA) maintaining its markedly lower projection of 2.0 percent.

Gross domestic product (GDP) grew by just 2.8 percent in January-March, well below the government’s 5.0- to 6.0-percent goal for the year and slowing from 3.0 percent three months earlier.

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