Economy grows 6.4%

Michelle Fernandez

This is AI generated summarization, which may have errors. For context, always refer to the full article.

The Philippine economy grew 6.4% in the first quarter of 2012, higher than expected, thanks to a strong showing by the services and industry sectors. This piece of good news comes amid a worsening eurozone crisis and the Philippine government’s own underspending. It’s also a huge jump from a dismal 4.9% growth in the same period last year. The economy seems to be gaining speed with the Philippines Stock Exchange outpacing benchmark indexes in Malaysia and Indonesia. Moody’s Investor Service has also revised the country’s outlook to “stable,” citing fiscal improvements.

Read the full story on Rappler

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI
Download the Rappler App!