Daily News

Economic growth slows to 5.5% in 2Q2019

The Philippine Statistics Authority said the domestic economy, as measured by gross domestic product (GDP), grew at a slower pace of 5.5% in 2Q2019, as against the 5.6% growth in 1Q2019 and the 6.2% expansion in the 2Q2018. The second quarter growth figure was the lowest in over four years, or since the 5.1% pace in the 1Q2015. This also brings the average growth rate in 1H2019 to 5.5%.  As such, the National Economic and Development Authority (NEDA) said the economy has to grow by an average of 6.4% in the second half to reach the low end of the government’s full-year target range of 6% to 7% in 2019