Philippine economic growth rebounds in fourth quarter

The Philippine economy grew by a slower 6.1 per cent in 2014, but beat expectations thanks to a strong final quarter, dpa quoted the government as saying Thursday.
Growth in gross domestic product (GDP) was down from a 7.2-per-cent expansion in 2013, but was above market forecasts, said Socio-Economic Planning Secretary Arsenio Balisacan.
'On a full-year basis, our country ranked second next to China with 7.4 per cent and slightly higher than Vietnam with 6 per cent,' he told a press conference.
In the fourth quarter of 2014, GDP growth rebounded to 6.9 per cent from a three-year low of 5.3 per cent in the third quarter.