By Inquirer.Net
The Philippine economy grew at a slightly faster pace in the second quarter, supported by easing inflation that likely bolstered consumer spending, even as an election-related ban on public disbursements curbed government expenditure.
Gross domestic product (GDP) expanded by 5.5 percent in the three months ending June, up marginally from 5.4 percent annual growth in the first quarter.
However, this marked a significant slowdown from the 6.5 percent growth recorded in the same period last year and fell short of market expectations. A recent Inquirer poll of economists projected a 5.6 percent increase.
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