Economics
Philippine GDP Picks Up in Fourth Quarter, Just Misses 2019 Goal
- Budget delay earlier in year may have cost full point of GDP
- Central bank chief says 7% economic growth attainable in 2020
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The Philippine economy picked up further in the fourth quarter after the government boosted infrastructure spending but fell just short of the government’s target for all of 2019, notching its slowest annual growth since 2011.
Gross domestic product expanded 6.4% in the October to December period, quickening from 6% in the third quarter, the Philippine Statistics Authority said in a briefing in Manila. The showing matched the median forecast among 23 economists surveyed by Bloomberg.