Philippines Q1 GDP grows 8.3% y/y, faster than expected

MANILA, May 12 (Reuters) – The Philippine economy expanded faster than expected in the first quarter of the year, data showed on Thursday, supported by the easing of COVID-19 curbs and election-related spending.

The Southeast Asian country’s gross domestic product PHGDP=ECI rose 8.3% in the March quarter from a year earlier, faster than the 7.7% expansion in the previous quarter, and above 6.6% growth forecast in a Reuters poll.

(Reporting by Neil Jerome Morales, Karen Lema and Enrico Dela Cruz; Editing by Jacqueline Wong)

((enrico.delacruz@tr.com))