Philippines' surprisingly strong first-quarter growth eclipses China

MANILA (Reuters) - The Philippines on Thursday posted surprisingly strong growth in the first quarter, knocking China from pole position in Asia, driven by robust domestic consumption and government spending.

 

Source: http://ph.news.yahoo.com/philippines-surprisingly-strong-q1-growth-eclipses-china-070213924.html

The stellar pace of expansion, which blew past expectations, pulled the peso up from an 11-month low and cemented views the central bank would leave its key policy rate on hold this year.

More good news for PH: First quarter GDP exceeds expectations

Looks like economy is beginning to be really more fun in the Philippines.

 

The Roxas Boulevard skyline in the early evening. (Yen Baet) Source: http://ph.news.yahoo.com/ph-economy-exceeds-expectations--growth-highest-among-some-asian-economies-064148106.html?clear=cache

This, as the Philippine economy exceeds expectations by expanding by 7.8 percent in the first quarter, a growth a Cabinet official says was among the fastest in the region.

The country's gross domestic product spike from January to March was the highest recorded in the Aquino administration, and the third consecutive quarter that registered above 7 percent growth.