Thursday, February 22, 2024

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PH economy grows 6.2% in Q3

The Philippine Statistics Authority and National Economic Development Authority (NEDA) announced that in view of the speedy government spending, the Philippines augmented its third quarter, 2019 gross domestic product (GDP) to 6.2%, above the targeted 5.8% to 6% GDP growth by the Bangko Sentral ng Pilipinas. The services sector contributed most in the feat with 6.9% year-on-year growth rate, followed by the industry realm at 5.6%, and 3.1% share by the agriculture domain. The NEDA is optimistic that the country will not decelerate to 6.7% GDP in the last quarter of the year.

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