27.10.2008 - Philippines: The real estate puzzle
From Inquirer.net: Amid our economic slowdown since the start of the year even well before the US financial meltdown ensued, there is one industry that has defied the general trend, even doing better this year so far compared to last year’s performance. The real estate sector grew almost 22 percent in the first half of the year, even improving on its 20-percent growth in the same period last year. In stark contrast, industries that had been zooming with double-digit growth in recent years, especially communication and finance, struggled with a mere 2.6- and 2.4-percent growth in the second quarter of 2008. ..... Full Article: Source
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