Philippines Economy Expands 1.5% QoQ In Q4


The Philippines GDP advanced 1.5 percent quarter-on-quarter in in the three months to December of 2017, following an upwardly revised 1.7 percent expansion in the September quarter and below market estimates of a 1.8 percent growth. It was the weakest quarterly expansion since the first quarter of the year, mainly due to a slowdown in the services sector.

In the fourth quarter, the services sector rose 1.5 percent, easing from a 1.9 percent rise in the September quarter. Meanwhile, the industry sector went up 2.0 percent, the same as in Q3. At the same time, the agriculture, hunting, forestry and fishing contracted by 0.1 percent, after a 0.7 percent fall in the third quarter.

Year-on-year, the economy expanded an annual 6.6 percent, following an upwardly revised 7 percent growth in the previous quarter and below consensus of a 6.7 percent growth. It was the weakest growth since the March quarter 2017.

Considering full year 2017, the economy advanced 6.7 percent, slower than a 6.9 percent growth in 2016. For 2018, the economy is projected to grow between 7-8 percent.

Philippines Economy Expands 1.5% QoQ In Q4


PSA l Rida Husna | rida@tradingeconomics.com
1/23/2018 4:43:37 AM