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At least somewhere GDP grows more than forecast...

The Philippine economy grew faster than economists estimated last quarter as manufacturing rose, in a boost to President Benigno Aquino’s goal of luring more investment to create jobs. The peso rose.

Gross domestic product increased 6.4 percent in the three months through June from a year earlier, the Philippine Statistics Authority said in Manila today, after rising 5.6 percent in the previous quarter. The median estimate of 22 economists in a Bloomberg survey was 6.1 percent.

A rebound in manufacturing and exports are aiding Aquino’s efforts to transform the nation into one of Asia’s fastest growing economies as he aims for as much as 7.5 percent annual expansion this year. Bangko Sentral ng Pilipinas raised the benchmark interest rate last month to contain inflation running at a three-year high.

Source - Bloomberg