Mon, 30 Jan 2012 11:41:38 GMT
Philippines economic expansion slows down
Philippines growth pace slowed last year as world's economic turmoil dampened country's exports. The country's economy expanded by 3.7% in 2011 as compared to 7.6% in the preceding year, reported the National Statistical Coordination Board. Philippines exports have been tumbling for seven months in line. The government expected the economy to grow by 4.5-5.5% last year.