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