Philippine market growth accelerates in Q4

摘要

Philippines - The Philippine market for commercial vehicles (>2 tons gvw) continued to surge ahead in the fourth quarter of 2015, with sales rising by almost 47% to 22,070 units from 15,037 units in the same period of the previous year, according to data sourced from within the industry. Annual GDP growth is estimated at 6.3% in the fourth quarter of 2015, slightly better than the revised 6.1% growth seen in the third quarter. Driving the economy forward was a 9.3% year-on-year jump in public spending, including a 21% rise in public sector construction such as infrastructure development.