PH economy grew by 5.2% in Q3 --PSA

The Philippine economy grew by 5.2% in the third quarter of the year, lower than the 6.4% recorded in the previous quarter, the Philippine Statistics Authority (PSA) announced Thursday.

The PSA said this brings the average gross domestic product growth for the first three quarters of 2024 to 5.8% which is slightly below the government’s target of 6% to 7% for the year. According to PSA chief and National Statistician Claire Dennis Mapa, the country’s gross domestic product (GDP) —the total value of goods and services produced in a period—grew by 5.



2%, with the services sector posting highest contribution with 4.1%. Industry contributed 1.

3% in the GDP growth and Agriculture, Forestry, and Fishing (AFF) industry with -0.2%, he added. The country's gross national income (GNI) increased by 6.

8% and the net primary income to 19.3%. —AOL, GMA Integrated News.