Early indicators point to strong 2013 growth

Prospects for the Philippine economy remain bright with several key leading indicators pointing to the likelihood that the expected rapid growth in the first half would be sustained in the coming months.

According to the Bangko Sentral ng Pilipinas (BSP), healthy car sales and higher energy consumption were among the early signs that the economy would continue to outperform its peers in the region.

The Philippine economy grew 7.8 percent in the first quarter, beating even China, the region’s perennial growth driver. Economic Planning Secretary Arsenio Balisacan last month said the economy likely expanded by 7.5 percent in the second quarter.

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