Philippines

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Industrial production in the Philippines has long been dominated by the manufacturing and export of electronic goods, which have fallen prey to the global downturn as demand slows worldwide.
The Filipino economy is fortunate to post flat year-on-year growth this year as the worldwide economic turmoil comes into full swing.
The real estate sector will likely endure a difficult year throughout 2009 as the deepening global economic crisis continues to dampen consumer and investor confidence.
Infrastructure development has been identified as a key driver for the Philippines' economy, as the country moves to minimise the effects of the global downturn.
The Philippines banking sector is staying strong despite the uncertain global economic outlook.
While the Philippines has not been immune to the effects of the global financial crisis and economic slowdown, it managed to avoid slipping into recession and maintained steady growth in 2008, which was driven in part by the strong performance of many sectors in the first half of the year.

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