Philippines Growth  Picks Up
World Economy

Philippines Growth Picks Up

Economic growth slightly picked up in the third quarter as government spent more and household consumption increased, the country’s economic manager said, Yahoo reported. In a press briefing Thursday, Economic Planning Secretary and National Economic and Development Authority Director General Arsenio Balisacan said gross domestic product growth hit the 6% mark in the third quarter, an improvement from 5.8% the previous quarter and the three-year low 5% in the first three months. In the same quarter last year, GDP expanded at a slower pace of 5.5%. He said for the first nine months of 2015, growth stood at 5.6%, making a 6% full-year target “very much likely given even better prospects for the last quarter.” The country’s GDP growth was the third fastest after China’s 6.9% and Vietnam’s 6.8%. Balisacan said strong domestic demand fueled output growth in the third quarter, led by significant improvements in government spending and household consumption. In July to September, public sector performance improved, with government expenditure increasing from 3.9% to 17.4%.


Short URL : http://goo.gl/OXRwt8
  1. http://goo.gl/JuP657
  • http://goo.gl/vBD0oJ
  • http://goo.gl/yyEG9L
  • http://goo.gl/I2hNJv
  • http://goo.gl/dUKFdS

You can also read ...

An expanding trade war threatens to squeeze incomes.
The untold story of the world economy—so far at least—is the...
Russia has been seeking ways of decreasing dependence  on the US currency.
One of Russia’s largest banks, VTB is seeking to decrease the...
Uncertainty abounds in Malaysia, where a two-month-old government is only starting to give  a clearer picture of economic policy.
For Southeast Asia's biggest economies, 2018 wasn't supposed...
PwC Says Australian Firms Deliberately Going Broke
Companies that deliberately fail are costing the Australian...
Asian Stocks Retreat, European Shares Mixed
Asian stocks closed lower on Monday as investors digested the...
Turkey Budget Deficit Expands
Turkey’s central government budget balance recorded a deficit...
Chinese Premier Li Keqiang (C) shakes hands with Jean-Claude Juncker (L) and Donald Tusk after the meeting in Beijing on Monday.
China could open its economy if it wished, European Commission...
Experts Say China Can Cope With Uncertain H2
China is confident it can cope with a more uncertain second...