The Philippines has just posted the fastest 3rd quarter economic growth in Asia. According to Fortune, "strong construction and infrastructure investment and upbeat consumer spending bolstered growth". The figure of 7.1%, which was announced by the Philippine Statistics Authority on Thursday, surpassed the 6.7% median growth estimate making the Philippines the fastest growing economy in Asia.
This compares to China’s third quarter growth rate, at 6.7%, and Vietnam’s, at 6.4%. Last quarter, India posted a 7.1% growth rate but it has yet to report its third quarter figures. Bloomberg projects that the Philippine economy, undeterred by the risk of a protectionism under Donald Trump and President Rodrigo Duterte’s anti-U.S. tirades, is set to expand more than 6% until 2018.