Philippines GDP grows 7.1% in Q3, fastest among Asian markets

[Pinoy]

November 17, 2016

The Philippine economy grew by 7.1 percent in the third quarter of the year, the fastest among major Asian emerging markets, the National Economic and Development Authority said on Thursday.

"This growth is above the median market expectation of 6.8 percent," Policy and Planning Undersecretary Rosemarie G. Edillon told reporters in a briefing at The Heritage Hotel in Manila.

The economy has hit its stride in the third quarter, growing strongly by 7.1 percent, as measured by the gross domestic product (GDP), and cements the chance of achieving the target of 6.0 to 7.0 percent for the whole of 2016, the NEDA said.

"We are the fastest-growing among major Asian emerging economies that have already released data for the quarter. We are higher than China’s 6.7 percent, Vietnam’s 6.4 percent, Indonesia’s 5.0 percent, and Malaysia’s 4.3 percent," Edillon noted. India has not yet released its data.

The third quarter output was mainly driven by the services sector which expanded by 6.9 percent and industry which grew by 8.6 percent, Philippine Statistics Authority data showed

With the projected population reaching 103.5 million in the third quarter of 2016, per capita GDP grew by 5.3 percent and per capita gross national income by 4.6 percent. "These are both higher than the respective growth of 4.4 percent and 4.5 percent in 2015," the statitics office noted.

The laggard agriculture sector rebounded by 2.9 percent in July to September, after five consecutive quarters of contraction.

"From the supply or production side, we are happy to note the recovery signs of agriculture, which is one of the major development priorities of this administration," Edillon noted.

The third quarter output was in line with the 6.3 to 7.3 percent forecast by the NEDA and higher than the 7 percent second quarter GDP. It also topped the 6.2 percent recorded in the third quarter of 2015.

Edillion noted it would not be difficult now to achieve the full-year growth target, considering the economy needs grow by at least 3.4 percent growth to reach the low-end of the target range at 6.0 percent.

"To reach the high-end target of 7.0 percent, we need to grow by 6.9 percent in the fourth quarter," she added.

From the demand side, investments continue to drive the growing. This indicates its sustainability, according to the NEDA.

"Growth in investments for durable equipment remained strong. Private sector investments in construction grew significantly by 16.2 percent this quarter from last year’s 4.0 percent. Public investment in infrastructure remained strong, with public construction expanding by over 20 percent for the third quarter, Edillon noted. — VDS/KG, GMA News

 

[initial_d]

Good, best of luck for the phillipine

 

[AndrewJin]

Great news

 

[Cossack25A1]

It would have been faster had the economic restriction in the country was removed or eased.

 

[pr1v4t33r]

It would have been faster had the economic restriction in the country was removed or eased.

Please slow it down, folks. Don't left Indonesia behind. We only grow 5% this year.

 

[Nike]

Please slow it down, folks. Don't left Indonesia behind. We only grow 5% this year.

not necessarily bad for us, the more richer our neighbor the more larger market is avalaible to us. Indonesia export of car and home appliances products to them is growing larger by each passing years

 

[pr1v4t33r]

not necessarily bad for us, the more richer our neighbor the more larger market is avalaible to us. Indonesia export of car and home appliances products to them is growing larger by each passing years

Indeed, yet their growth is still enviable considering Indonesia slow economic recovery. Furthermore, they also post smaller inflation figure around 2%. With that number, they can get real growth around 5%. While ours only 1.5% with inflation around 3.5%.

 

[Nike]

Indeed, yet their growth is still enviable considering Indonesia slow economic recovery. Furthermore, they also post smaller inflation figure around 2%. With that number, they can get real growth around 5%. While ours only 1.5% with inflation around 3.5%.

blame ourselves who still fighting over petty things like "penistaan" over larger issue like our lags in economic growth behind the peer like Philippine, Vietnam or Myanmar or issue like health and education reform in which still yet to be seen the results.

 

[pr1v4t33r]

blame ourselves who still fighting over petty things like "penistaan" over larger issue like our lags in economic growth behind the peer like Philippine, Vietnam or Myanmar or issue like health and education reform in which still yet to be seen the results.

Just when we thought everything is under control and start to looks really promising with TA and all that, another unnecessary disruption appears, and shake things up all over again.

 

[Nike]

Just when we thought everything is under control and start to looks really promising with TA and all that, another unnecessary disruption appears, and shake things up all over again.

blame the camel brain zombies who gathered in Jakarta on 4 November, they ashamed the Nation. Look at the litter and garbages they left after the ocassion, and destruction of sutrounding area (especially garden and flower) surely not showing the real identity of Muslim who should take the clean environment as part of our Iman, they are hypocrites and liar.

Philippine will leave us on economic terms if we are not trying to correct ourselves. Fucklah....

 

[ahojunk]

blame the camel brain zombies who gathered in Jakarta on 4 November, they ashamed the Nation. Look at the litter and garbages they left after the ocassion, and destruction of sutrounding area (especially garden and flower) surely not showing the real identity of Muslim who should take the clean environment as part of our Iman, they are hypocrites and liar.

Philippine will leave us on economic terms if we are not trying to correct ourselves. Fucklah....

Indonesia has far too many of these "camel brain zombies" who are easily manipulated by the corrupt politicians.

Not sure what Indonesia can do about this.

The west see and portray that Ahok is being victimized because he is a Christian and Chinese. There is a lot of work ahead for Indonesia to change this perception of Indonesia discriminating its minorities.

 

[Nike]

Indonesia has far too many of these "camel brain zombies" who are easily manipulated by the corrupt politicians.

Not sure what Indonesia can do about this.

The west see and portray that Ahok is being victimized because he is a Christian and Chinese. There is a lot of work ahead for Indonesia to change this perception of Indonesia discriminating its minorities.

those camel brain zombies is actually minority in Indonesia, the ones gathered in Jakarta is only able to muster 150 k man and woman and their children although they had boasting to muster more than millions at 4/11. The majority even blame them for disrupting economic activity.

After Ahok got convictee status, the moral support for him actually grow in large number, recent twitter about dukung Ahok (support Ahok) hit millions and got viral. Millions Jakartans ready to give him their votes as the most honest support form, I, myself will votes for him in the next election. Indonesia is at the most important cross roads actually.

 

[pr1v4t33r]

Indonesia has far too many of these "camel brain zombies" who are easily manipulated by the corrupt politicians. Not sure what Indonesia can do about this. The west see and portray that Ahok is being victimized because he is a Christian and Chinese. There is a lot of work ahead for Indonesia to change this perception of Indonesia discriminating its minorities.

While the zealot protest over Ahok's slip of tongue was unfortunate and regretted by many, i want to make clear distinction that this is not necessarily because he is Chinese or Christian. But mostly because of his controversial personality. I mean, wise man should know better when he should speak up and when he should keep quite. This man just wont listen and keep barking randomly creating a lot of room for his enemies to shoot and take him down.

It's unfortunate considering his arguably good performance in Jakarta.

 

[ahojunk]

those camel brain zombies is actually minority in Indonesia, the ones gathered in Jakarta is only able to muster 150 k man and woman and their children although they had boasting to muster more than millions at 4/11. The majority even blame them for disrupting economic activity.

After Ahok got convictee status, the moral support for him actually grow in large number, recent twitter about dukung Ahok (support Ahok) hit millions and got viral. Millions Jakartans ready to give him their votes as the most honest support form, I, myself will votes for him in the next election. Indonesia is at the most important cross roads actually.

Really good to know that the camel brain zoombies are the minorities. 150k is still a fairly large number.

These idiots damages the reputation of Indonesia. More Indos should come out and strongly condemn them.

Images of rioting in Jakarta is not pleasant to see, especially when there are portrayed to target minorities. Minorities are saying that they are scared as they are made the scapegoats. There were recent incidents in Batam targeting the Chinese minority.

 

[Nike]

Really good to know that the camel brain zoombies are the minorities. 150k is still a fairly large number.

These idiots damages the reputation of Indonesia. More Indos should come out and strongly condemn them.

Images of rioting in Jakarta is not pleasant to see, especially when there are portrayed to target minorities. Minorities are saying that they are scared as they are made the scapegoats. There were recent incidents in Batam targeting the Chinese minority.

we are large country, 150 k is nothing compared to member of moderate Islam organization like NU who had 40 million registered member whose leader banning their member to joint the rally under NU flags.

ah this so OUT OF TOPIC BTW