Philippines’s GDP Grows 1.1% QoQ in Q3

In the third quarter of 2013, Filipino GDP growth slowed for the second straight quarter to a seasonally adjusted 1.1 percent, from 1.6 percent in the previous period. The government expects full-year GDP growth close to the 6-7 percent goal, targets 6.5 to 7.5 percent in 2014.

The Industry sector grew by a seasonally adjusted 0.3 percent in the third quarter of 2013, slowing down from 1.4 percent in the second quarter and services also decelerated to 1.6 percent (from the previous quarter's 2.1 percent growth). In contrast, agriculture, hunting, forestry and fishing grew by 0.7 percent, a reversal from the previous quarter's 0.7 percent drop. 

On the demand side, seasonally adjusted household final consumption expenditure grew faster by 1.9 percent from 1.4 percent growth in the June quarter.  

The GNI accelerated by 1.8 percent in the third quarter, from 1.1 in the previous three-month period. 

Over a year earlier, the economy expanded at its slowest pace in more than two years and grew 7 percent. 

Philippines’s GDP Grows 1.1% QoQ in Q3

National Statistical Coordination Board | Joana Taborda |
11/28/2013 11:53:51 AM