GDP grows faster at 6% in Q3 vs 5.8% in Q2

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Philippine economic growth accelerated to 6 percent in the third quarter of the year from a revised 5.8 percent in the second quarter and 5.3 percent in the third quarter of last year, official figures released Thursday show.

The latest growth rate in gross domestic product (GDP) comes within the range of 5.8 percent to 6.5 percent forecast by economists from private banks polled earlier by The Manila Times.

Data released by the National Economic and Development Authority (NEDA) and the Philippine Statistics Authority (PSA) showed the services sector leading the acceleration in third-quarter growth with a 7.3 percent expansion from 5.6 percent previously.

MAYVELIN U. CARABALLO


MC/NT

 

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