BREAKING: Philippine economy grows 7.1% in the third quarter of the year, fastest among Asian markets says PSA
The Philippine economy grows by 7.1 percent in the third quarter of the year, the fastest among major Asian emerging markets, the National Economic and Development Authority said on Thursday.
"This growth is above the median market expectation of 6.8 percent," Policy and Planning Undersecretary Rosemarie G. Edillon told reporters in a briefing at The Heritage Hotel in Manila.
The economy has hit its stride in the third quarter, growing strongly by 7.1 percent, as measured by the gross domestic product (GDP), and cements the chance of achieving the target of 6.0 to 7.0 percent for the whole of 2016, the NEDA said.
"We are the fastest-growing among major Asian emerging economies that have already released data for the quarter. We are higher than China’s 6.7 percent, Vietnam’s 6.4 percent, Indonesia’s 5.0 percent, and Malaysia’s 4.3 percent," Edillon noted. [source]