The country’s economy grew by 7.6 percent in the third quarter, faster than the 7 percent recorded a year ago, according to data released by the Philippine Statistics Authority (PSA) on Thursday.
The country’s economy grew by 7.6 percent in the third quarter, faster than the 7 percent recorded a year ago, according to data released by the Philippine Statistics Authority on Thursday.
Data from the PSA also indicated that Industry recorded a 5.8-percent growth, slower than last year’s 7.9 percent. The performance of the economy during the period, Socioeconomic Planning Secretary Arsenio M. Balisacan said, can be attributed to the easing of mobility and the reopening of schools for face-to-face classes last August.
The latest GDP data boosts the case for the central bank to tighten monetary policy further to contain inflation amid a sustained demand recovery.
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