Daily Journal masthead

Philippine economy grew 5.6 pct in the second quarter, slightly below government's target

bug
Share/Save/Bookmark

MANILA, Philippines — Officials say the Philippine economy grew by 5.6 percent in the second quarter from a year ago, slightly below government's target.

The figure brings growth in the first six months to 5.3 percent, down from 6.2 percent for the same period a year ago. The economy grew 5 percent in first quarter.

Economic Planning Secretary Arsenio Balisacan said Thursday that the government is likely to miss its 2015 full-year growth target of 7 to 8 percent, with 6 to 6.5 percent growth looking more realistic.

He called the second-quarter figure "respectable," saying it reflects a boost in government spending, especially public construction, which grew 20 percent from a 24 percent contraction in the first quarter after efforts to address spending bottlenecks.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.