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Philippine Q4 growth will likely be better than Q3: official

[MANILA] Philippine economic growth in the last three months of the year will likely be better than the third quarter, Socieconomic Planning Chief Arsenio Balisacan said on Wednesday, citing positive results of the latest business and consumer confidence surveys.

Balisacan also said the economic impact of typhoon Hagupit, which damaged more than 1 billion pesos (US$22.36 million) worth of crops and farm-related infrastructure, will be "negligible." Annual growth in the September quarter was 5.3 per cent. Manila has a growth target of 6.5-7.5 per cent this year.

REUTERS