Philippines Economy Expands 1.4% QoQ in Q2


The Philippines GDP advanced 1.4 percent quarter-on-quarter in the three months to June of 2019, following a downwardly revised 0.6 percent growth in the previous period. The service sector grew faster, while there was an upturn in both the industry sector and agriculture, hunting, forestry and fishing activities.

The service sector expanded 1.9 percent in the June quarter, after a 1.7 percent increase in the preceding quarter. This was the strongest increase in services activity in 2-1/2 years, mainly driven by trade, other services and financial intermediation. In addition, industry sector grew by 0.7 percent, shifting from a 0.8 percent decline in the March quarter, supported by manufacturing output, electricity, gas and water supply and mining & quarrying. Also, agriculture, hunting, forestry and fishing increased 0.3 percent, following a 0.6 percent fall in the previous period, with main contributions coming from agricultural activities and services, other crops, and livestock. 

Year-on-year, the economy advanced 5.5 percent in the second quarter, the weakest annual growth rate since the March quarter 2015, and after a 5.6 percent expansion in the prior quarter.

Philippines Economy Expands 1.4% QoQ in Q2


PSA l Rida Husna | rida@tradingeconomics.com
8/8/2019 3:07:47 AM