Philippine Economy Grows 6% Year over Year

The Philippine economy grew 6% year-on-year in the three months to September, slightly below forecasts but still leaving it on track to be one of Asia’s fastest growing economies this year.

Arsenio Balisacan, the country’s economic planning secretary, said the numbers were an encouraging sign of a steadily growing economy.

The Philippines is Southeast Asia’s fifth largest economy.

The economy grew by 1.1% in the quarter from the previous three-month period.

That was also below expectations, and marked a slowdown from the 2% growth recorded in the three months to June.

However, Mr Balisacan said the latest gross domestic product figures made full-year growth of 6% likely, with even better prospects for the final quarter.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza