GDP growth slides anew

PHILIPPINES - In Brief 08 Nov 2018 by Romeo Bernardo

After the disappointment in the previous quarter, today’s news that 3Q18 GDP slowed to 6.1%, a shade below the median analysts’ forecast, was less of a surprise. The pattern of growth was similar to the earlier quarters, i.e., robust domestic demand that was offset by higher net imports. However, while government continued to spend aggressively and investments, including public construction, continued to grow at double digits, consumer spending continued to weaken, an upshot of higher inflation. Quarter-on-quarter, household consumption, which makes up close to 70% of GDP, grew only 0.6% in...

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