Philippines Q2 GDP expands 6.5% y-o-y, tops forecast

[MANILA] The Philippine economy grew a faster-than-expected 6.5 per cent in the second quarter from a year earlier, driven by a strong industrial sector and a recovery in agriculture, the statistics agency said on Thursday.

Economists in a Reuters poll had forecast annual growth of 6.2 per cent in the three months ending June, compared with the first quarter's 6.4 per cent pace.

Growth for April-June on a quarterly basis will be released later. The poll's median estimate was for the economy to expand 1.6 per cent from the previous three months, faster than the first quarter's 1.1 per cent growth.

REUTERS