Philippines Economic Growth Slows to Four-Year Low of 5.6%

(Bloomberg) -- The Philippine economy grew at the slowest pace in four years in the first quarter as delays in passing the budget stalled government spending. The peso and stocks fell.

Gross domestic product rose 5.6% in the first quarter from a year earlier, lower than almost every forecast in a Bloomberg survey of economists. Growth slowed from 6.3% in the last three months of 2018.

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