• Economic growth gains pace to 6.4%

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    The Philippine economy grew 6.4 percent year-on-year in the second quarter of 2014, gaining pace since the slowdown seen in the first quarter but still lower than the year-earlier rate, official figures just released by the National Economic and Development Authority (NEDA) and the Philippine Statistics Authority (PSA) show.

    Growth in gross domestic product (GDP) in the April-June period this year accelerated from the revised 5.6 percent recorded for the January-March quarter, but still lagged the year-earlier rate of 7.9 percent.

    For the first half of 2014, cumulative growth reached 6 percent, compared with 7.8 percent in the corresponding period of 2013, according to the data.

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    1. …and that is with too much port congestions. What is the GDP percentile if the raw mats were timely delivered to maufacturers instead of them waiting idle in our docks? Staggering and shivering…and this scenario of port congestion was not timely addressed by our highly paid government officials nor raised to high heavens by the private sector organizations that trumpets economic efficiency and growth. If figures are indications of things to happen..then the fantastic rise in GDP shouid have served as warning signs for future actions…( RISK MANAGEMNET ). Questions should have been asked…woe to us…read the newspapers all is about 2016 elections and political mud slinging. We are yet to see any grand design (infrastructure expansion of ports/air ports, economic turn around brainstomed over the board ideas) in the next 20 years..from government or private sector.