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Downtrend in economic indicators could affect Philippine GDP growth forecast

Halfway through the year, two major economic indicators in the Philippines were on the downtrend, prompting some analysts to say that these could adversely affect the country’s forecast of a 5-6 percent growth in its gross domestic product (GDP) in 2012.

In a report released last Friday, the National Statistics Office ( NSO) said that Philippine exports grew by only 4.2 percent in June after a double-digit rebound in May.