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PHILIPPINES: ECONOMY IN STRONG GROWTH

The Philippine economy grew at its fastest pace in three years last quarter, underscoring the nation’s resilience to global risks as investment surged and consumers spent more. Stocks gained.

Key Points

– Gross domestic product increased 7.1 percent from a year earlier, the Philippine Statistics Authority said in Manila Thursday. The median estimate of 15 economists surveyed was 6.7 percent

– Compared with the previous quarter, GDP rose 1.2 percent, in line with economists’ estimates

 

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Philippines Posts Strongest Economic Growth in Asia at 7.1%