Philippines Economy Expands 1.1% QoQ in Q3
The Philippines GDP advanced 1.1 percent in the third quarter of 2015, down from an upwardly revised 2 percent expansion reported in April to June and below market expectations. While the agriculture sector further contracted, growth in the services and industry sectors slowed.
11/26/2015 11:07:34 AM
The services sector grew by 1.7 percent, as compared to a 2.2 percent expansion in the second quarter of 2015. The industry sector expanded by 0.6 percent, slowing from a 2.4 percent growth in the preceding quarter. Meanwhile, the agriculture sector shrank 1.1 percent, following a 0.5 percent decline in the previous three months.
Year-on-year, the economy expanded 6.0 percent in the September quarter, accelerating from an upwardly revised 5.8 percent expansion in the previous quarter but below market expectations.