THE Philippine economy is likely to have grown by 6 percent in the second quarter of the year, driven by the growth in consumer spending, an economist said on Friday.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., told the Philippine News Agency that the growth in consumer spending could be attributed to the lower individual income tax rates implemented earlier this year.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details