The Philippines' economy advanced at a solid pace in the fourth quarter, underpinned by robust household consumption despite rising inflationary pressures and increased borrowing costs, data from the Philippine Statistics Authority showed on Thursday.
Gross domestic product showed a yearly growth of 7.2 percent after rising 7.6 percent a quarter ago. The pace of growth was forecast to ease to 6.5 percent. Moreover, this was the seventh straight quarter of expansion.
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