Philippine GDP growth still below target at 5.5% in Q2 2019 Full story:
SLOWDOWN. Economic growth slows down further in the 2nd quarter of 2019, still below the government's target. File photo by Inoue Jaena/Rappler
It also remains below the government's target of 6% to 7%, and failed to meet analysts' expectations. The year-to-date average now stands at 5.5%. Socioeconomic Planning Secretary Ernesto Pernia described the recent quarters as"challenging times." GDP now needs to grow by at least 6.4% in the 2nd half of 2019 to meet the lower end of the target for the year.global slowdown
"As we have anticipated, these have been challenging times. The past year, we had enumerated the major ones that we thought would impact our economic performance, namely the El Niño phenomenon, the increasing protectionism in advanced economies, and the election ban on construction activities," Pernia said.
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