Philippines Economy Expands in Q2 2011

The Philippines' economic growth, as measured by the gross domestic product (GDP), was estimated to have expanded by 4.5 to 5.5 percent in the second quarter, with agriculture and mining leading the charge, says the National Economic and Development Authority.


The second quarter growth was attained despite the external shocks from natural disasters in Japan, the slow recovery of the US, the debt crisis in some of the countries in the Euro zone, the social unrest in the Middle East and North Africa or the MENA region, and higher oil prices.


The National Statistical Coordination Board will release on August 31 the official estimates on the GDP and related economic figures for the second quarter.





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