Philippines Economy Expands 1.3% QoQ in Q2
The Philippines GDP advanced 1.3 percent quarter-on-quarter in in the three months to June of 2018, following a 1.5 percent growth in the previous quarter. It was the weakest quarterly expansion since the September quarter 2015, mainly due to a slowdown in the services and industry sectors.
8/9/2018 10:06:59 AM
In the second quarter, output rose at a softer pace for the services sector (1.6 percent from 1.4 percent in the March quarter); and the industry (1 percent from 1.8 percent). Meantime, the agriculture, hunting, forestry and fishing grew by 1.5 percent, after a 0.5 percent increase in the previous quarter.
Year-on-year, the economy grew by 6 percent, compared to a downwardly revised 6.6 percent growth in the first quarter. It was the slowest pace of expansion since the June quarter 2015.