Philippine economy grows 7.1% in third quarter

Agence France-Presse

11:14 am | Wednesday, November 28th, 2012

Source: ncsb.gov.ph

MANILA – The Philippines said Wednesday that the economy expanded a better-than-expected 7.1 percent year on year in the three-months to September on the back of a robust services sector.

The strong performance in the July-September quarter helped push growth in the first nine months of the year to 6.5 percent, said Jose Ramon Albert, the head of the government statistics board.

He credited the services sector, especially transport, storage and communication, financial inter mediation and real estate.

Albert said the third quarter figure was a sharp improvement from the 3.2 percent growth posted in the same period last year.

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Tags: economy growth , Philippines

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