6.3% Q2 growth buoys hope for full-year goal 

Quick Summary:

THE steady pace of household consumption and faster government spending in the second quarter allowed the economy to exceed the low-end of the administration’s growth target despite elevated inflation and high interest rates.

Balisacan also noted that government final consumption expenditure contributed 1.7 percentage points to the 6.3 percent GDP growth.

Government final consumption expenditure, meanwhile, posted a growth of 10.7 percent, the highest since the 11.1 percent posted in 2022.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesChinaIndonesiaMalaysiaVietnam

Topics: Year Rate Percent Growth Posted Economy Consumption Second Quarter Rates 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 18:01:39 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1124 words

Reading Time: 7 minutes read

Sentences: 42 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 21991619

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 49 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 14 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Publisher ID: #37

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