Philippine GDP growth likely moderated to 6% in Q2 2023 from Q1's 6.4%

09 Aug '23

1 min read

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Insights

The Philippines' GDP growth likely moderated to 6 per cent in the second quarter (Q2) this year from 6.4 per cent in Q1, Moody's Analytics estimated in its Pacific Economic Preview for this week.
“Easing inflation and tight labour market will power household consumption,” it said.
GDP is expected to grow between 6 to 7 per cent this year.

The Philippines’ gross domestic product (GDP) growth likely moderated to 6 per cent in the second quarter (Q2) this year from 6.4 per cent in Q1, Moody’s Analytics estimated in its Pacific Economic Preview for this week.

“Easing inflation and tight labour market will power household consumption,” it said, without mentioning the factors that made the economy grow slower.

GDP is expected to grow between 6 to 7 per cent this year, a news agency reported.

National Economic and Development Authority secretary Arsenio Balisacan expects GDP growth to have eased in Q2 2023, but still hopes that the expansion remains within the government’s target.

The second-quarter GDP result will be announced this week.

ALCHEMPro News Desk (DS)

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