The Philippine economy grew well short of expectations in the second quarter as high inflation weighed on household spending and weak global demand and higher imports dampened net trade.
Gross domestic product grew 7.4 percent on a yearly basis in the second quarter, the Philippine Statistics Authority said Tuesday.
This was slower than the revised 8.2 percent increase in the first quarter and economists' forecast of 8.6 percent and also marked the weakest expansion in three quarters.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com