THE Philippine gross domestic product grew 7 percent in the second quarter of the year, Socioeconomic Planning Secretary Ernesto Pernia announced late Thursday, making the Philippines the fastest growing economy in the region.

    Pernia told a news conference in Davao City the growth is “an upbeat start” for the new administration of Philippine President Rodrigo Duterte, saying investments had the highest contribution to the growth followed by industry.

    “The growth is within market expectations, given average consensus forecast of 6.1 to 7.2 percent for the second quarter,” Pernia told a news conference in Davao City.

    “This strong growth increases the probability of our attaining the revised full-year 2016 real growth projection of 6 to 7 percent,” he added.(Xinhua)