Bloomberg News

Philippine Storms May Reduce Growth by 0.13%, Paderanga Says

October 26, 2011

Oct. 27 (Bloomberg) -- Philippine storms in recent weeks may cut growth by about 0.13 percent, Economic Planning Secretary Cayetano Paderanga said in speech today in Manila.

Growth momentum is expected to accelerate this quarter on seasonal holiday spending even as global developments, including the crisis in Europe, may impact the domestic economy, he said. Business sentiment improved, supporting investments, he said.

--With assistance from Cecilia Yap in Manila.

To contact the reporter on this story: Norman P. Aquino in Manila at naquino1@bloomberg.net

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net


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