Economic slowdown seen in Q1

While the Philippine economy managed to register a 7.2-percent gross domestic product (GDP) growth for the whole of 2013, there are signs that an economic slowdown may be happening soon, as shown by the devaluation of the peso, and massive outflow of foreign investment portfolio in the first month of the year, among others.

Now the government-run Philippine Statistics Authority may be backing that view, as it announced on Monday that the Philippine economy may grow slower in the first quarter of the year, with the eight out of 11 leading economic indicators (LEI) posting declines for the quarter.