Philippine Economy Grows 2.3% in Q2 Amid Slower Economic Activity

Philippine Economy Grows 2.3% in Q2 Amid Slower Economic Activity

Philippine: The Philippine economy grew 2.3% year-on-year in the second quarter, below the 2.8% growth expected by economists in a Reuters poll and unchanged from the first-quarter pace. On a seasonally adjusted basis, GDP increased 0.6% quarter-on-quarter, down from 0.9% in the previous quarter. Annual inflation slowed for a third consecutive month to 6.2% in July from 6.4% in June, driven by slower transport cost increases.

Source: The Star