THE PHILIPPINE ECONOMY likely grew by 6% in the third quarter as declining inflation may have fueled a rebound in consumer spending, Finance Secretary Ralph G. Recto said.
“I’m still hoping 6%, more so that inflation is declining,” Mr. Recto told reporters on the sidelines of an event late on Tuesday.
“The biggest [driver] would be household consumption, which is 75% of the economy,” he added.
For as long as household consumption grows by 6%, Mr. Recto said, the economy would likely grow by 6%.
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