Philippines economy grows 6.3% in Q2 despite 'anaemic' consumer spending

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MANILA : The Philippine economy expanded 6.3 per cent in the second quarter, official data released on Thursday showed, with government spending and investments offsetting "anaemic" consumption growth as inflation weighed on households.

The expansion was the fastest since the 6.

"The household final consumption expenditure continued to be a bit anaemic, the growth is not as strong as one would expect," Economic Planning Secretary Arsenio Balisacan told reporters.

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Category: EconomyBusiness

Markets: SingaporePhilippines

Topics: Data Philippines Spending Quarter Government Year Economy Growth Cent Inflation Grows

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 11:59:20 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 449 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21977498

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Main Topics: EconomyBusiness

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