The Philippine economy is currently in a “sweet spot” with growth likely having accelerated in the first three months of the year, Moody’s Analytics said.

“The Philippine economy likely grew 6.8 percent year-on-year in the first quarter,” it said in a report released over the weekend.

Official gross domestic product (GDP) growth data is scheduled to be released next month. A 6.8 result would be an improvement from the 6.4 percent recorded a year earlier and the downwardly revised 6.5 percent posted in the last quarter of 2017.