{
    "success": true,
    "data": {
        "id": 1491272,
        "msgid": "rp-gdp-grew-64-in-q1-topping-forecasts-1447893297",
        "date": "2004-05-28 00:00:00",
        "title": "RP GDP grew 6.4% in Q1, topping forecasts",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "RP GDP grew 6.4% in Q1, topping forecasts Brisk consumer spending and a buoyant farm sector output pushed Philippine economic growth above forecasts to 6.4 percent from a year earlier in the three months to March, officials said on Thursday. Economic Planning Secretary Romulo Neri said the first quarter result should give the oil-dependent and debt-laden Southeast Asian economy sufficient cushion to weather rising crude oil prices and an expected rise in interest rates later this year.",
        "content": "<p>RP GDP grew 6.4% in Q1, topping forecasts<\/p>\n<p>Brisk consumer spending and a buoyant farm sector output<br>\npushed Philippine economic growth above forecasts to 6.4 percent<br>\nfrom a year earlier in the three months to March, officials said<br>\non Thursday.<\/p>\n<p>Economic Planning Secretary Romulo Neri said the first quarter<br>\nresult should give the oil-dependent and debt-laden Southeast<br>\nAsian economy sufficient cushion to weather rising crude oil<br>\nprices and an expected rise in interest rates later this year.<\/p>\n<p>Brisk private consumption boosted by spending related to<br>\ncampaigning for the May 10 presidential election, and a buoyant<br>\nfarm sector helped push the gross domestic product (GDP) up by<br>\n6.4 percent, Neri told a news conference.<\/p>\n<p>Economists polled by financial news service AFX-Asia had<br>\nearlier forecast GDP growth of between 4.3 and 5.5 percent.<\/p>\n<p>GDP grew 2.2 percent from the previous three months.<\/p>\n<p>The gross national product, which includes net factor income<br>\nfrom abroad, expanded 6.2 percent from the previous year.<\/p>\n<p>Neri said the government decided to maintain its full-year GDP<br>\ngrowth target of between 4.9 and 5.8 percent despite the adverse<br>\nnews on the oil and interest rates fronts.<\/p>\n<p>\"The economy's engines of growth were generally healthy. All<br>\neconomic sectors vigorously expanded,\" he said.<\/p>\n<p>\"The economy has enough bright spots to mitigate rises in oil<br>\nprices and interest rates.\"<\/p>\n<p>He said inflation should be at the \"higher end\" of the<br>\ngovernment's target of between 4.0 and 4.5 percent.<\/p>\n<p>The government said agricultural output rose 7.7 percent,<br>\ncompared to 2.9 percent in the comparable period last year.<\/p>\n<p>The services sector grew 6.4 percent, compared to 5.6 percent<br>\nin the same period last year.<\/p>\n<p>Industrial output also increased by 5.5 percent, compared to<br>\n4.1 percent in the comparative quarter last year.<\/p>\n<p>Meanwhile, the government revised the 2003 GDP growth upward<br>\nto 4.7 percent, from 4.5 percent. -- AFP<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rp-gdp-grew-64-in-q1-topping-forecasts-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}