Philippines GDP growth at 7.2% in second quarter

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August 29, 2013

MANILA - The Philippine economy grew by 7.5% y/y in Q2, higher than market expectations of 7.2%. Growth moderated from downwardly-revised 7.7% expansion in Q1, previously at 7.8%. ANZ Bank says it is maintaining its 2013 GDP growth forecast of 7.1%. Sources of growth are now more balanced, ANZ says. “We continue to expect domestic growth to be underpinned by public and private investment.”