Author Topic: Philippine GDP grows faster than expected by 6.9% in Q3 2017  (Read 1252 times)

adroth

  • Administrator
  • Boffin
  • *****
  • Posts: 12826
    • View Profile
    • The ADROTH Project
Philippine GDP grows faster than expected by 6.9% in Q3 2017
« on: December 28, 2017, 04:01:43 AM »
Philippine GDP grows faster than expected by 6.9% in Q3 2017
(3rd UPDATE) The Philippines posts a 'spectacular' 6.9% economic growth in the 3rd quarter despite slower consumption

Chrisee Dela Paz and Chris Schnabel
Published 10:16 AM, November 16, 2017
Updated 9:40 PM, November 16, 2017

https://www.rappler.com/business/188617-gross-domestic-product-philippines-q3-2017

MANILA, Philippines (3rd UPDATE) Even if government spending and the agriculture sector slowed down, the country's gross domestic product (GDP) grew faster than expected by 6.9% in the 3rd quarter of 2017, the fastest in the last 4 quarters.

"The Philippines' economic growth surpassed market expectations. That's spectacular growth after an election year," Socioeconomic Planning Secretary Ernesto Pernia said in a news conference on Thursday, November 16.

The faster-than-expected growth is driven by strong exports, industrial output, and the services sector, Pernia said.

The Philippines' July-to-September growth is faster than the 6.7% growth in April-to-June, but lower than the 7.1% in the 3rd quarter of 2016.

The 3rd quarter GDP figure also surpassed the expectation of most economists.

Based on Bloomberg and Reuters polls, the median projection was a 6.5% GDP growth in the 3rd quarter of the year.

< Edited >