Economy up 7% in Q2

Philippine economic growth accelerated to 7 percent in the second quarter from the 5.9 percent expansion a year earlier, bringing the first half expansion to 6.9 percent, the government reported on Thursday.

The second quarter result is also an improvement from 6.8 percent gross domestic product (GDP) growth recorded three months earlier, which reflects a downward revision from the previously estimated 6.9 percent rise.