The Philippines’ economy grows 2.3% in the second quarter compared with the same period last year, according to the country’s statistics agency. The result is reported as slower than expected by markets and economists. A Reuters poll cited by one outlet projects year-on-year growth of 2.8% for Q2, which would have matched the pace of growth in the first quarter. On a seasonally adjusted basis, the economy expands 0.6% quarter-on-quarter, as reported by Interaksyon. Across the sources, the common points are the Q2 year-on-year growth rate of 2.3%, the characterization that it falls short of expectations, and the presence of both year-on-year and quarter-on-quarter measures in the reporting. The articles do not provide additional breakdowns of which sectors drive the change or further details on components of GDP. Overall, the coverage centers on the figure released for Q2 and its implication that the economic expansion in the Philippines remains positive but decelerates relative to forecasts.
Philippines Q2 GDP grows 2.3% year-on-year, slower than expected
The Philippines’ economy grows 2.3% in the second quarter compared with the same period last year, according to the country’s statistics agency. The result is reported as slower than expected by marke...
- The Philippines’ Q2 GDP rises 2.3% year-on-year.
- The Q2 growth rate is slower than expected.
- Economists in a Reuters poll expected about 2.8% year-on-year for Q2.
- On a seasonally adjusted quarter-on-quarter basis, GDP grows 0.6% in Q2.
MANILA — The Philippine economy PHGDP=ECI grew 2.3% in the second quarter from a year earlier, the statistics agency said on Friday, slower than expected. Economists in a Reuters poll had expected the economy to grow 2.8% year-on-year in the second quarter, which would have matched the first-quarter growth rate. On a seasonally adjusted quarter-on-quarter basis, the economy grew 0.6% in the […] The post Philippines Q2 GDP grows 2.3% yr/yr, slower than expected appeared first on Interaksyon.
2 months ago
McKinsey removes partner from leadership role after LinkedIn posts on women’s workplace challenges
McKinsey removes an Australian partner from a leadership role within the firm’s research arm after an internal review of...
IonQ to acquire Elisity for up to $1.3 billion in all-stock deal
IonQ Inc. has agreed to buy cybersecurity firm Elisity Inc. for up to $1.3 billion, using an all-stock transaction, acco...
LTTS launches AI-Native Factory and targets 80% revenue from strategic AI focus areas
LTTS says it is making artificial intelligence a major growth focus, launching an AI-Native Factory lab in Bengaluru and...