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  • Writer's pictureZiggurat Realestatecorp

PH Economy Accelerates 11.8% in Q2

The domestic economy, as measured by the country’s gross domestic product (GDP), grew 11.8 percent in April to June, a reversal of the 17 percent contraction registered in the same period last year, the Philippine Statistics Authority (PSA) reported.


At Constant 2018 Prices

source image: PSA

The economy has turned back into growth mode as expected in the second-quarter of the year on the back of low base effects, the PSA data showed Tuesday, August 10.

The second-quarter GDP has been hailed as the Philippines’ strongest performance in more than two-decades and marked the end of five consecutive quarters of negative growth.

Moreover, last quarter’s GDP is a turn around from minus 3.9 percent seen in the first three-months of the year. The record performance brought the first-semester GDP at 3.95 percent.

The government expects full-year economic growth to come in between 6.0 percent and 7.0 percent.

Source: PSA

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