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

May 12, 2022By 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)


This article originally appeared on reuters.com

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