ADB cuts PH growth outlook

The Asian Development Bank (ADB) has cut its growth outlook for Philippines this year by 0.2 percentage points from 6.2 percent to 6 percent saying slower growth in the third quarter will drag full-year estimates.

The Philippines’ six percent growth for this year, however, leads its neighbors with 5.7 percent estimated for Malaysia, 5.6 percent for Vietnam, 5.1 percent for Indonesia, 3.2 percent for Singapore and 1 percent for Thailand.