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Philippines’ Q4 economy grows, but slower

by ChemOrbis Editorial Team -
  • 26/01/2017 (17:31)
According to Philippine Statistics Authority, Philippines’ gross domestic product rose by 6.6% on a yearly basis in the fourth quarter of 2016. However, this was a slower pace of growth than 7.1% in Q3, which was the country’s fastest growth rate in three years and positioned the country as the fastest growing economy in Southeast Asia.

The growth was mainly driven by manufacturing, trade, real estate, renting and business activities. The data showed that industrial sector and services sector made the biggest contribution to the growth by respective increases of 7.6% and 7.4%.

In 2016, the country’s economy grew by 6.8% year-on-year.
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