The Philippine economy is seen growing at a faster rate in the second quarter, a senior government official said on Wednesday.
"The second quarter could be higher than the first quarter as some leading economic indicators have so far been pointing to that direction," Myrna Asuncion, acting director for policy planning at economic planning agency, told reporters.
The higher car sales, a healthy banking sector, stronger exports and consumption are just among the positive indicators that drove growth from April to June, Asuncion said.
Depending on the performance of the economy during the period, the government might have to revise its full year target of 5 percent and 6 percent, Asuncion said.
The Philippine economy expanded at a faster rate of 7.3 percent in the first quarter./.