Philippine Growth Beats Estimates as Spending Counters Risks
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The Philippine economy grew more than economists estimated as higher public spending and consumption spurred the strongest six-month performance since the 2010 bounce-back from the global crisis. The peso gained.
Gross domestic product increased 5.9 percent in the three months through June from a year earlier, compared with a revised 6.3 percent gain in the previous quarter, the National Statistical Coordination Board said in Manila today. The median of 18 forecasts in a Bloomberg News survey was 5.5 percent.