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Philippine GDP grows slower at 6.1% in Q3

GMA News Online logo GMA News Online 11/8/2018 Sollorano, Vic
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The Philippine gross domestic product (GDP) grew at a slower pace of 6.1 percent in the third quarter, compared with the previous quarter and the same comparable period in 2017, the Philippine Statistics Authority (PSA) reported on Thursday.

The third quarter GDP compares with the revised 7.0 percent in the third quarter of 2017, and the revised 6.2 percent in the second quarter of 2018.

“Among the major economic sectors, Services recorded the fastest growth at 6.9 percent, followed by Industry with a growth of 6.2 percent. On the other hand, Agriculture declined by 0.4 percent,” the PSA said.

“With the country’s projected population reaching 106.6 million in the third quarter of 2018, per capita GDP grew by 4.4 percent,” the PSA added.

GDP is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period, according to Investopedia. —VDS, GMA News

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