The Philippine economy grew at a slower pace in the first quarter of 2014. PH's gross domestic product (GDP) grew by 5.7 percent in the first three months of the year, much lower than the 6.4 percent median estimate of 20 analysts queried by Reuters.
The growth pace was even slower than the 6.5 percent year-on-year growth in the fourth quarter of 2013, and the annual 7.7 percent growth in the first quarter of 2013.
The Aquino government is aiming for 6.5 to 7.5 percent GDP growth this year. In 2013, the economy grew by 7.2 percent, Southeast Asia's fastest at that time.
The growth pace was even slower than the 6.5 percent year-on-year growth in the fourth quarter of 2013, and the annual 7.7 percent growth in the first quarter of 2013.
The Aquino government is aiming for 6.5 to 7.5 percent GDP growth this year. In 2013, the economy grew by 7.2 percent, Southeast Asia's fastest at that time.
