Philippine Q3 GDP growth 'much better than consensus forecast' -Finance Minister | Inquirer Business

Philippine Q3 GDP growth ‘much better than consensus forecast’ -Finance Minister

/ 09:00 AM November 10, 2022
Finance Secretary Benjamin Diokno

Philippine Finance Secretary Benjamin Diokno speaks during an economic briefing following President Ferdinand Marcos Jr’s first State of the Nation Address, in Pasay City, Metro Manila, Philippines, July 26, 2022. REUTERS/Lisa Marie David/File Photo

MANILA  – Philippine economic growth in the third quarter was “much better than consensus forecast”, the finance minister said on Thursday ahead of the official release of data.

A slew of positive data, including the lowest unemployment rate since the start of pandemic, strong remittance inflows and a rise in reserves supported better than expected gross domestic product (GDP) growth in the July to September period, Finance Secretary Benjamin Diokno told Reuters.

ADVERTISEMENT

“All these will be summarized by the higher than expected Q3 GDP growth rate,” Diokno said.

Analysts polled by Reuters forecast third-quarter GDP grew 6.3 percent on an annual basis. Official data will be released at around 0200 GMT.

FEATURED STORIES

The Southeast Asian nation’s second-quarter GDP grew 7.5 percent versus a year ago.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: economy, GDP, Philippines
For feedback, complaints, or inquiries, contact us.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2023 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.