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Economic growth slowing in Southeast Asia
Southeast Asian economies, which have been enjoying growth rates around 7%, are starting to lose steam as the rest of the world continues to slump and rising prices discourage spending. The Philippines saw real gross domestic product grow 6.4% on the year in the April-June quarter, according to official data released Thursday. The growth rate for the January-June half was 6%. Though strong consumption helped boost GDP by 7.2% in 2013, the economy there has been slowing down of late. Exports only increased 10.3% in April-June, compared with the 13.5% jump in the previous quarter. Construction and capital investment ... (full story)