The Philippines GDP expanded 1.7 percent quarter-on-quarter in the three months to June 2017, stronger than an upwardly revised 1.3 percent growth in the March quarter 2017. The figure came in above markets estimates of a 1.6 percent expansion, as services and industry rose at faster paces.
In the first quarter 2017, the services sector rose 1.5 percent, higher than 1.4 percent in the March quarter 2017. The industry sector went up 2.1 percent, faster than a 0.9 percent expansion in the previous three months. The agriculture, hunting, forestry and fishing increased 1.6 percent, after expanding 2.1 percent in the first quarter.
Year-on-year, the economy grew an annual 6.5 percent, following a 6.4 percent expansion in the previous quarters and above market consensus of a 6.2 percent growth.
8/17/2017 2:14:34 PM