PHILIPPINES

Economy Expanded 5.2% in 1st Quarter: Economists credited steady manufacturing growth, rising exports and a recovery in agriculture for the rise in the gross national product. The National Economic Development Authority said the gross domestic product, which does not include remittances from abroad, grew by 4.8%. Economists and analysts interviewed by Bloomberg Business News predicted continuing GNP growth ranging from 4.7% to 6.5%. All agreed that a 5% expansion would allow the government to achieve its target of 6.5% for the year.