JCER upgrades PH growth forecast to 4.7 percent

Japan Center for Economic Research (JCER) has upgraded its 2021 economic growth forecast for the Philippines to 4.7 percent.

This projection is higher than the previous estimate of 3.2 percent but still below the government’s target of 5-5.5 percent.

Private-sector economists predict a slightly higher growth rate of 5.1 percent compared to JCER's forecast.

JCER estimates fourth-quarter expansion at 4.2 percent, slower than the third quarter's surprise growth of 7.1 percent.