Moody’s unit sees faster PH growth in Q3

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Moody’s Analytics, which operates independently of the Moody’s Investors Service credit rating agency, said Monday the Philippine economy likely grew faster in the third quarter compared with the 4.3-percent expansion in the second quarter on the back of higher government spending.

“We look for a 5.1 percent year-on-year reading, an improvement from the 4.3 percent growth in the prior quarter,” it said. The Philippine Statistics Authority will release the official third-quarter GDP data later this week. Inflation peaked at 8.7 percent in January 2023 before easing in the next six months. Higher food prices spiked again in August to 5.3 percent and 6.1 percent in September.

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MlaStandard /  🏆 20. in PH

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