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Philippine 6.4pc growth sustainable, says economist

Reliable indicators show the Philippine 6.4-percent GDP rebound in the first quarter can be sustainable, giving fresh hopes the Philippine economy will surge more strongly forward.

Quoting earlier reports from the National Statistics Coordination Board, Albay Gov. Joey Salceda noted that the strong first quarter rebound was driven among others by public construction at 62.2 percent, net exports, overseas Filipino workers remittances at +4 percent, and household spending.

The 6.4 percent first quarter growth went on record as the best among the 10-member countries of the Association of South East Asian Nations. The growth figure placed the Philippines second to China in Asia.