Philippines GDP data disappoints

Growth in the Philippines was lower than expected, it was announced yesterday. GDP for the three months to September rose by 6.5 per cent, yet economists had expected growth of 7.3 per cent or above. The news came in the same week as disappointing figures also emerged from Thailand and Taiwan. The economy in Thailand contracted by 0.2 per cent in the third quarter of the year, while industrial output slumped in Taiwan.