Philippines leads Asia's out-performers amid China slowdown, S&P says

MANILA - The Philippines leads Asian countries that would continue to grow despite a slowing China, according to Standard & Poor's (S&P).

In a report on the region's credit conditions, S&P said China's slowdown is "the main risk factor" for Asia, as economic growth in some countries so far this year turned up less robust than earlier anticipated.

“For the year ahead, we see activity in China picking up only modestly under our base case, forecasting 2013 real GDP growth at 7.3 percent and remaining at that pace next year," said Andre Palmer, S&P credit analyst.

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