Philippines’ Economy Expands 1.4% QoQ in Q2

In the second quarter of 2013, Philippines' GDP grew a seasonally adjusted 1.4 percent, slowing from 2.3 percent growth recorded in the first three months of 2013. While the agricultural sector contracted over the previous quarter, services and industry eased.
Joana Taborda | joana.taborda@tradingeconomics.com 8/29/2013 10:05:23 AM
Services expanded 1.8 percent, from 2.4 percent in the previous quarter. Industry growth slowed down to 1.4 percent from 2.8 percent registered in the previous three-month period. In contrast, the agricultural sector contracted 0.8 percent.

Year-on-year, the GDP expanded 7.5 percent, from 7.7 percent in the previous quarter, holding growth above 7 percent for the fourth consecutive quarter.

Philippines’ Economy Expands 1.4% QoQ in Q2