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Philipine economy jumps by 6.9 percent
(MENAFN) The Philipine economy increased faster than predicted at 6.9 percent in the first quarter.
Moreover, the robust performance increases the likelihood of achieving local product growth target of 6.8 percent to 7.8 percent.
In addition, the increase was driven by the services sector, which grew by 7.9 percent and industry posted its highest growth at 8.7 percent.
On the other hand, investments also boosted the economy, with fixed capital posting 25.5 percent growth.
Moreover, the robust performance increases the likelihood of achieving local product growth target of 6.8 percent to 7.8 percent.
In addition, the increase was driven by the services sector, which grew by 7.9 percent and industry posted its highest growth at 8.7 percent.
On the other hand, investments also boosted the economy, with fixed capital posting 25.5 percent growth.
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