Philippines Q3 GDP grew 7.1% y-o-y

[MANILA] The Philippine economy grew 7.1 per cent in the third quarter from a year ago, the national statistics agency said on Thursday, supported by growth in services, industry and farm sectors.

Annual growth was 7.0 per cent in the second quarter.

Economists polled by Reuters had forecast the economy would expand an annual 6.7 per cent in the September quarter, while the government had expected growth in the 6.3-7.3 per cent range.

Growth for July-September on a quarterly basis will be released later. The poll's median for the third quarter to show a 1.1 per cent rise in GDP from the second quarter, slower than the second quarter's 1.8 per cent rise from the first quarter.

REUTERS