Rapid IT-BPO growth to further boost employment growth

Information and analytics firm IHS Markit predicts a rapid employment growth in the IT-BPO sector this year as the sector is expected to continue its rapid growth. Rajiv Biswas, Asia-Pacific chief economist at IHS Markit, said the rapid growth in the IT-BPO industry will continue to boost exports of IT-related services and catalyze the development of office parks in major cities. Biswas projected a moderation in Q4 economic growth to 6.5% to bring the end-2016 average to 6.8%. Nine of 10 financial institutions that participated in an Inquirer survey expected a lower Q4 GDP expansion than the better-than-expected 7.1% growth posted in Q3.