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Economic growth is weaker than what the headline number suggests

By Inquirer - 7 months ago
Last week, the government announced that gross domestic product (GDP) in the first quarter expanded by 5.7 percent. At first glance, growth seemed pretty good. Although it was below the consensus forecast of 5.9 percent, it was faster than the fourth quarter’s 5.5-percent increase. Nevertheless, a more detailed analysis would show a much weaker economy

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