The Philippine economy grew 5.3 percent year-on-year in the third quarter of 2014, the slowest pace for a three-month period since the fourth quarter of 2011, official figures released Thursday morning show.
The rate of expansion in gross domestic product (GDP) for the July-September period released by the National Economic and Development Authority (NEDA) and the Philippine Statistics Authority (PSA) stands far below the median forecast for the quarter by analysts, as well as the comparative figures recorded in the second quarter and the year earlier.
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