World Economy

Philippine Economy to Rise

Philippine Economy to RisePhilippine Economy to Rise

Philippine economic growth likely accelerated in the last quarter of 2014 on robust exports and stronger farm output, putting it among the fastest growing economies in the region. A retreat in government investment, however, may see it missing the official full-year target of 6.5-7.5% growth, a Reuters poll showed. From a year earlier, GDP likely grew 6.0% in the fourth quarter, faster than the previous quarter’s 5.3% annual clip. GDP rose 6.4% year-on-year in the June quarter and 5.6% in the first quarter of 2014. For the full-year, the poll predicted growth of 5.8%, which would be the weakest since 2011 when the economy grew 3.7%.