GDP growth firms to 6.5% in Q2 from 6.4% in Q1

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THE Philippine economy grew 6.5 percent in the second quarter of 2017, accelerating from 6.4 percent in the first quarter due largely to bigger government spending amid a slack in private investment, official data showed on Thursday.

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Growth in the second quarter stood within the 5.8 percent to 6.8 percent range forecast by private analysts polled earlier by The Manila Times.

Compared with the year-earlier, which registered growth of 7.1 percent, gross domestic product (GDP) slowed in the second quarter.

The second-quarter pace brought the first-half rate of growth to 6.4 percent, losing steam from 7 percent in the first half of 2016, the data released by the Philippine Statistics Authority showed.

The first-half 2017 figure fell short of the full-year target set by the government at 6.5 percent to 7.5 percent.

 

MAYVELIN U. CARABALLO

 

 

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