Economics
Philippine Growth Quickens Less Than Estimated; Peso Falls
- Government forecasts 6.9% growth in 4th quarter, 6% for 2015
- Third-quarter government spending jumps 17.4% from year ago
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Philippine economic growth accelerated less than analysts estimated last quarter, underscoring the external risks that policy makers are guarding against even as spending by households and the government climb. The peso fell.
Gross domestic product increased 6 percent in the three months through September, the Philippine Statistics Authority said in Manila Thursday. That compares with a median estimate of 6.3 percent in a Bloomberg survey of 21 analysts, and a 5.8 percent pace in the second quarter.