HSBC unit ups PH growth outlook to 6.5%

By Mayvelin U. Caraballo

Jun 08, 2022 12:34 am

HSBC Global Private Banking has upped its economic growth outlook for the Philippines to 6.5 percent, although rising commodity costs remains a headwind.

Its chief investment officer for Southeast Asia, James Cheo, announced in a virtual press conference that the firm's 2022 growth projection for the Philippines is an upward revision from its earlier estimate of 6.2 percent.

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