MANILA, Nov 28: The typhoon and earthquake that hit the central Philippines this month could shave off as much as 0.8 percentage point from the domestic economy’s growth in the fourth quarter, Socio-economic Planning Secretary Arsenio Balisacan said on Thursday.
But full-year 2013 GDP growth is still likely to be closer to the high end of the government’s 6-7 growth target, he said.
The Philippine economy grew 1.1 percent in the third quarter from the previous three months, underpinned by a strong services sector, uptick in domestic demand and a recovery in exports. Quarterly growth was slightly slower than expected.
(agencies)
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