(UPDATE) THE economy grew 5.7 percent in the first quarter this year despite strong domestic and international headwinds, the Philippine Statistics Authority (PSA) reported on May 9.
THE economy grew 5.7 percent in the first quarter this year despite strong domestic and international headwinds, the Philippine Statistics Authority reported on May 9.The result — up from 5.5 percent in the last three months — was lower than the 6.4 percent recorded in the previous year and the 5.9 percent median projection by economists in a The Manila Times poll.
Likewise, government final consumption expenditure, gross capital formation, exports of goods and services, and imports of goods and services grew by 1.7 percent, 1.3 percent, 7.5 percent, and 2.3 percent.During the same period, gross national income expanded by 9.7 percent, and net primary income from the rest of the world surged by 57.0 percent.
Growth Of 5.7% Short Of Expectations
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