Good news! The Philippine economy grew by 7.1% in the 3rd quarter of 2016.  This was higher than the 3Q forecast of 6.7%

This is backed up by very good numbers in key factors regarding the country’s economy.  Per capita household final consumption expenditure (HFCE) went up by 5.6%.  Services contributed most to the higher GDP, increasing by 4.1%.

After 5 consecutive quarters going down, the agriculture sector finally broke the spell and increased by 2.9% in 3Q2016.

Here are the itemized contributions of each of the sectors to the final GDP number:

Agriculture: 0.2%

Industry: 2.8%

Services: 4.1%

GDP: 7.1%

The faster than expected GDP growth is already pushing the PSEi higher, currently at 7,110.87, up by 145 points or 2.08%.

 

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