Macro Update - VCSC GDP growth target raised to 6.5%
  • 2015-07-06T00:00:00
  • Macroeconomics
2Q15 GDP growth of 6.44% is the highest since 2007. Industry and construction continue to provide strong support to the economy. We raise our GDP growth target to 6.5% on the expectation that the strong momentum will be carried forward into the second half of 2015 when economic activity peaks. Economy is making re-entry into growth cycle leading to accelerating demand for financing – credit growth is at 3-year high.