THE Philippines’ gross domestic product (GDP) grew by 6.7 percent in 2017, within the government’s target for that year but slower than the previous year’s 6.9 percent growth, the Philippine Statistics Authority (PSA) reported on Tuesday.
In the fourth quarter of 2017, GDP grew by 6.6 percent, moderating from 7 percent in the third quarter but matching the expansion recorded in the final quarter of 2016.
The government’s official target for 2017 was for GDP to grow within a range of 6.5 percent to 7.5 percent.
Last year’s GDP growth also settled within the 6.6 percent to 6.8 percent forecast range by private analysts polled by The Manila Times, but exceeded their average growth forecast of 6.6 percent. MAYVELIN U. CARABALLO