PH GDP grows below 6 pct for first time in 9 quarters

The Philippine economy only grew by 5.7 percent in the first quarter of this year, below market forecasts of above 6 percent growth. Government attributed the slower growth to the impact of super typhoon "Yolanda." Economic Planing Secretary Arsenio Balisacan says Yolanda did not just damage the agriculture sector, but it also disrupted supply chains and hurt tourism revenues.