Philippines Economy Expands 1.1% QoQ In Q1
The Philippines GDP expanded 1.1 percent quarter-on-quarter in the three months to March 2017, compared to an upwardly revised 1.8 percent growth in the December quarter 2016 and below markets estimates of a 1.5 percent growth. It was the weakest growth since the first quarter 2015 as the services sector and industry grew at a slower pace while agriculture rebounded.
In the first quarter 2017, the services sector rose 1.4 percent, decrease from a 2.0 percent rise in the December quarter 2016. The industry sector edged up 0.4 percent, slower than a 2.1 percent expansion in the previous three months. In contrast, the agriculture, hunting, forestry and fishing rose 1.6 percent, after contracting 0.9 percent rise in the fourth quarter.
5/18/2017 4:18:29 AM
Year-on-year, the economy grew an annual 6.4 percent, following a 6.6 percent expansion in the previous quarters and below market consensus of a 6.8 percent growth. It was the weakest expansion since the September quarter 2015.