Philippines GDP grows by 6.3% in Q4 2015

A vendor arranges his round fruit product in Manila as for the celebration of coming new year, according to the belief that must prepare 12 round fruits, one for each month of the coming new year to ensure that the new year being welcomed is a prosperous

The Philippines’ gross domestic product (GDP) grew by 6.3% in the fourth quarter of last year, compared to the same period in 2014. According to the country’s statistics arm, the figure has brought GDP growth for the whole of 2015 to 5.8%, which is lower than 2014’s 6.1%. Earlier this week, the International Monetary Fund’s (IMF) forecast stood at 5.7%, down from the initial forecast of 6%. The growth was spurred by the services sector, while the industrial and agricultural sectors saw significantly slower growth.

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