PH economy ranks second among Asian nations in terms of gross domestic product growth

InterAksyon.com reports that on Thursday, May 31, the National Statistical Coordination revealed that "the Philippines’ gross domestic product grew by 6.4 percent in the January to March period, from the revised 4.9 percent expansion in the same period last year."

InterAksyon.com reports that on Thursday, May 31, the National Statistical Coordination revealed that "the Philippines’ gross domestic product grew by 6.4 percent in the January to March period, from the revised 4.9 percent expansion in the same period last year."

 

The InterAksyon.com report quoted Socioeconomic Planning Secretary Arsenio Balisacan, who said that "the first-quarter growth is well above the market’s consensus forecast of 4.8 percent, and the fastest in Asia except China, which expanded by 8.1 percent."

 

The report pointed out: "Within the ASEAN region, the Philippines’ economic performance was above the region’s average of 3.7 percent, growing faster than Indonesia (6.3 percent), Vietnam (four percent), Singapore (1.6 percent) and Thailand (0.3 percent). Growth in other Asian countries likewise was slower: India (5.3 percent), Hong Kong (0.4 percent), Republic of Korea (2.8 percent), and Japan (2.8 percent)."

 

For more on this story, log on to InterAksyon.com.

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