The Philippine economy grew at a 7.5% pace in the April-June quarter, the fourth consecutive quarter of growth topping 7% and a marked improvement on a year-earlier gain of 6.3%. "While other economies that were growing at a fast rate are now decelerating due to a global slowdown, the Philippine economy has shown an ability to withstand external shocks," said Arsenio Balisacan, socioeconomic planning secretary.

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