Daily News

3Q2019 GDP growth scaled down

The Philippine Statistics Authority (PSA) said the Philippine economy in the third quarter grew at a slower pace than previously reported. Gross domestic product (GDP) expanded by 6% in the July-September period, slower than the preliminary 6.2%. This brought 2019’s first three quarters’ pace to 5.7% from 5.8% initially, against the government’s revised 6%-6.5% target for the year. Socioeconomic Planning Secretary Ernesto Pernia said he remains hopeful in achieving the 6%-6.5% growth target for 2019 despite the downward revision.