Philippines Economy Expands 1.2% QoQ in Q1

In the first quarter of 2014, the Philippines GDP advanced 1.2 percent on a seasonally adjusted basis over the previous quarter, slower than a revised 1.7 percent expansion in the previous three months, hurt by lower agricultural production.
National Statistical Coordination Board | Joana Taborda | joana.taborda@tradingeconomics.com 5/29/2014 11:32:17 AM
The services sector grew 1.7 percent in the first quarter, faster than 1.0 percent in the previous period, while both agriculture and industry slowed (0.1 percent and 0.5 percent, respectively). 

On the demand side, household consumption grew at a slower pace (1.0 percent from 1.3 percent in the previous quarter).

The GNI rose 1.5 percent in first quarter of 2014, slightly faster from a 1.4 percent increase in the previous quarter. 

Year-on-year, the economy advanced 5.7 percent in Q1, down from a revised 6.3 percent expansion in the last three months of 2013.

Philippines Economy Expands 1.2% QoQ in Q1