Philippine 3Q growth 2nd fastest in Asia

Exceeding expectations, the Philippine economy grew 7.1% in the third quarter of 2012, the the fastest in Southeast Asia, and the second-fastest in Asia. In a press conference on Wednesday, November 28, National Statistical Coordination Board Secretary-General Jose Ramon Albert said the better-than-expected growth was driven mainly by the services sector, supported by “the 5 consecutive quarters of sustained accelerated growth of the industry and the seemingly weather tolerant agriculture sector. A recent Harvard article provides context for this growth, saying the root of optimism stems from a “new standard of governance” which has helped restore confidence in the economy.

Full story on Rappler. For more context also read the Harvard Political Review.