Philippines Economy Expands 1.2% QoQ in Q3


The Philippines GDP advanced 1.2 percent quarter-on-quarter in the three months to September, slowing from an upwardly revised 2.1 percent expansion in the June quarter while market expected a 1.1 percent growth. It was the weakest growth since the March quarter 2015, as a faster increase in the agriculture and the industry sectors were not sufficient to offset a sharp slowdown in the services sector.

Agriculture, hunting, forestry and fishing grew by 2.3  percent, accelerating from a 1.2 percent increase in the June quarter. The industry sector rose 1.8 percent, faster than a 1.5  percent expansion in the previous three months. The services sector expanded 0.6  percent, following a 2.4 percent growth in the second  quarter and reaching the weakest growth since the December quarter of 2010.

Year-on-year, the economy grew an annual 7.1 percent in the third quarter of 2016, following a 7.0 percent expansion in the second quarter and beating market consensus of a 6.7 percent growth. It was the fastest expansion since the June quarter 2013.

Philippines Economy Expands 1.2% QoQ in Q3


PSA l Chusnul Ch Manan | chusnul@tradingeconomics.com
11/17/2016 4:09:26 AM