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Philippine growth quickens

The Philippine economy expanded in the first quarter at its quickest pace in almost three years, underpinned by a rebound in exports and election-related spending.

GDP rose 7.3 percent from a year earlier, more robust than the 0.5 percent growth recorded in the same quarter of 2009 and the 2.1 percent expansion posted in the fourth quarter, the Philippine National Statistical Coordination Board said on Thursday. The nation grew 3 percent in the first quarter from the fourth.