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Philippine Q1 GDP growth weakest in a year, but rate rise on cards

Reuters  |  MANILA 

By Neil Jerome MoralesMANILA (Reuters) - The Philippine economy grew at its slowest pace in more than a year in the first quarter on weaker government spending, but strong exports and domestic consumption suggest the Southeast Asian country remains poised to raise rates this year.It was the slowest economic expansion since firebrand President Rodrigo Duterte took office nearly a year ago, sending Manila's equities down more than 1 percent and the peso to a one-week low.Gross domestic product grew 6.4 percent in January-March from a year earlier, below forecasts for 6.8 percent growth and the ...

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First Published: Thu, May 18 2017. 11:08 IST