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Philippine Growth at 3-Year Low on Failure to Speed Up Spending

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Philippine economic growth slid to a three-year low last quarter as exports and government spending faltered, putting at risk President Benigno Aquino’s goal of faster expansion. Stocks slumped.

Gross domestic product increased 5.2 percent in the three months through March from a year earlier, the Philippine Statistics Authority said in Manila Thursday. That is lower than all but one estimate in a Bloomberg survey whose median was 6.6 percent.