Annual growth in the second quarter was 3.4 percent.

"The estimate...is 3.8 to 4.8 percent," said Ruperto Majuca, assistant director general of the economic planning agency. "It could even be a little bit higher, I feel, because of the leading economic indicators."

"The services sector will be the main driver for growth," he said.

The government trimmed its growth forecast to 4.5 to 5.5 percent from 5 to 6 percent this year, but economists in a Reuters poll in October predicted growth will slow to 4.3 in 2011.