MANILA, Philippines—British banking giant Standard Chartered sees the Philippines staying “more resilient” than other Asian economies in 2012 on the back of strong domestic demand and investment.

In its global outlook titled “Global Focus—2012 Fragile West, resilient East,” a chapter on the Philippines said Stanchart was expecting the domestic economy to grow by 3.8 percent for the full year and by a modest 3.2 percent next year, as the Western economic outlook deteriorates further.

The country’s gross domestic product is seen growing at a faster clip of 5.3 percent in 2013 and 5 percent in 2014.

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