Philippine 3Q11 GDP was 3.2% and with the downgrade revision for the 2Q11, is 3.6% year-to-date. Notable highlights:
On 22 November 2011, the World Bank decreased GDP forecasts for the Philippines from 5.0% to 4.2% for 2011 and from 5.4% to 4.8% for 2012. They cited a moderation of FDI with increased caution from investors, an increase in imports and a need to accelerate public spending while improving tax administration.
Featured Photo Credit: ©iStockphoto.com/andrearoad