PH economy remains king with 6.8% growth
The Philippines remains one of the fastest-growing economies in the region.
The economy grew by 6.8 percent in the first quarter, coming from 6.5 percent during the fourth quarter, the National Economic and Development Authority (NEDA) said.
NEDA Secretary Ernesto Pernia said this is the 10th consecutive quarter when growth clocked in at 6.5 percent or better, and logs next to Vietnam’s 7.4 percent expansion.
Industry led growth at 7.9 percent given rapid growth in manufacturing and construction.
“This indicates that our Build Build Build program is gaining ground,” Pernia said.
Services grew by seven percent even as farm output growth weakened to 1.5 percent.
This compares to 7-8 percent growth for 2018.