The recent rebound in Philippine imports suggests higher exports that could bolster Manila's economy to grow by over 7 percent this year, Singapore-based DBS Bank Ltd. said Friday.
In its latest Daily Breakfast Spread, DBS Bank — Southeast Asia's largest lender — sees the improving Philippine imports feeding domestic demand and resulting in a recovery in exports receipts.
“Not only does this point to continued strength in domestic demand remains but could be signaling further preparations by export manufacturers,” the report read, referring to the 8.7 percent annual growth in imports in July.
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