Growth likely higher in Q2

HEALTHY domestic demand and increased government spending likely boosted economic growth in the second quarter, analysts said, while inflation could have breached target last month due to higher energy and food costs.

Consumer price growth figures for July will be released by the Philippine Statistics Authority on Tuesday, to be followed by preliminary gross domestic product (GDP) growth data for the April-June period on Thursday. Both indicators will be considered by monetary authorities when they meet next week to discuss whether to start cutting key interest rates.