The Philippine economy grew at a slower rate of 5.7 per cent in the first quarter of 2014, dragged down by the lingering effects of one of the world's strongest typhoons last year, dpa quoted the government as saying Thursday. The gross domestic product growth in the January-March period was down from 7.7 per cent in the same period in 2013 and 6.3 per cent in the fourth quarter last year, the National Statistical Coordination Board said. Despite the slowdown, the Philippine economy is still the third fastest growing in Asia, next to China and Malaysia, Balisacan noted.
