MANILA — The Philippine economy grew 5.6% in the fourth quarter, government data showed on Wednesday, above expectations.
Economists in a Reuters poll expected growth to have settled at 5.2% in the last three months of the year, slower than the upwardly revised 6.0% expansion in the third quarter.
On a seasonally adjusted basis, the Philippine economy grew 2.1% quarter-on-quarter, above the 1.4% growth forecast in a Reuters poll.
Last quarter’s figure brought the full-year gross domestic product growth to 5.6%, below the government’s 6.0% to 7.0% target.
— Reporting by Mikhail Flores and Neil Jerome Morales; Editing by Martin Petty
