<\/p>\n
The Philippine economy grew 5.2 percent year-on-year in the third quarter of 2024, the Philippine Statistics Authority (PSA) said.<\/p>\n
It said that the gross domestic product grew 1.7 percent quarter-on-quarter.<\/p>\n
This brought the average growth in the first three quarters of 2024 to 5.8 percent, below the government\u2019s target range of 6 percent to 7 percent for the year.<\/p>\n
The main contributors to the third-quarter growth were wholesale and retail trade; repair of motor vehicles and motorcycles, 5.2 percent; financial and insurance activities, 8.8 percent; and construction, 9.0 percent.<\/p>\n
Among the major economic sectors, industry and services posted year-on-year growths in the third quarter of 2024 with 5.0 percent and 6.3 percent, respectively. Meanwhile, the agriculture, forestry and fishing sector posted a year-on-year decline of 2.8 percent.<\/p>\n
The PSA said that on the demand side, household final consumption Expenditure was the top contributor to the increase in the country\u2019s GDP, which grew year-on-year by 5.1 percent in the third quarter of 2024.<\/p>\n
Government final consumption expenditure rose 5.0 percent; gross capital formation, 13.1 percent; and imports of goods and services, 6.4 percent.<\/p>\n
Exports of goods and services recorded a year-on-year decline of 1.0 percent.<\/p>\n
The gross national income grew year-on-year by 6.8 percent in the third quarter of 2024 as the net primary income from the rest of the world expanded 19.3 percent during the period.<\/p>\n
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The Philippine economy grew 5.2 percent year-on-year in the third quarter of 2024, the Philippine Statistics Authority (PSA) said. It said that the gross domestic product grew 1.7 percent quarter-on-quarter. This brought the average growth in the first three quarters of 2024 to 5.8 percent, below the government\u2019s target range of 6 percent to 7 […]<\/p>\n","protected":false},"author":1,"featured_media":2873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Manilla-2.jpg",550,367,false],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Manilla-2-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Manilla-2-300x200.jpg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Manilla-2.jpg",550,367,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=2872"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2872\/revisions"}],"predecessor-version":[{"id":2874,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2872\/revisions\/2874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/2873"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=2872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=2872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=2872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}