Economic growth may slow to 6.5%

ECONOMIC expansion in the third quarter may slow to 6.5 percent from 7 percent in the second quarter due to sluggish exports and uncertain growth path of remittances, First Metro Investment Corp. and University of Asia and the Pacific said in a joint report Wednesday.

“Employment numbers in July and continued high growth in durable goods imports provide much confidence for a strong performance in the third quarter,” the economists said in the October issue of the Market Call.

“However, the erratic movements in OFW remittances and continued weakness in exports may pull growth closer to 6.5 percent,” the report said.