Wednesday, September 26, 2012

Philippine GDP growth forecast upgraded amid a sea of downgrades

Standard & Poor's raised The Philippines GDP growth forecast to 4.9 percent for 2012, up from it's earlier estimate of 4.3 percent.

This comes as the company downgraded the GDP growth forecast for Asia almost across the board.  The downgrades include half a percentage point for China to 7.5 percent, India to 5.5 percent, Australia to 3.0 percent, Korea to 2.5 percent, Japan to 2.0 percent,  Singapore to 2.1 percent, Taiwan to 1.9 percent, and Hong Kong to 1.8 percent.