Philippines Quarterly GDP Growth in Over a Year

The Philippines GDP advanced 1.6 percent quarter-on-quarter in the three months to December of 2018, after an upwardly revised 1.5 percent growth in the previous quarter. It was the strongest quarterly growth rate since the third quarter 2017, mainly boosted by the industry sector and agriculture, hunting, forestry and fishing.

In the December quarter, the industry sector expanded 1.9 percent, compared to a 1.8 percent growth in the September quarter and output rebounded for agriculture, hunting, forestry and fishing (1.4 percent vs -0.7 percent). On the other hand, a slowdown was seen in the services sector (1.4 percent from 1.6 percent).

Year-on-year, the economy advanced by 6.1 percent, compared to a downwardly revised 6.0 percent expansion in the September quarter. 

Considering the whole 2018, the economy expanded 6.2 percent, slowing from a 6.7 percent growth in 2017. It marked the weakest pace of expansion in three years and was below the government's target for 2018 of between 6.5 to 6.9 percent. For 2019, the government targets the economy to advance between 7 to 8 percent. 

Philippines Quarterly GDP Growth in Over a Year

PSA l Rida Husna |
1/24/2019 11:57:18 AM