Disasters dampen Philippine economic growth in 1Q

Published May 29, 2014 8:16am ET



MANILA, Philippines (AP) — A major earthquake and Typhoon Haiyan dampened Philippine economic growth in the first quarter but the economy is still expected to hit its target for 2014, officials said Thursday.

The country’s gross domestic product expanded 5.7 percent in the first quarter, down from 7.7 percent for the same period last year and 6.3 percent in the last quarter of 2013, according to the government statistics agency.

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