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Philippine GDP Growth Slows to 5.3% on Government Spending

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Philippine growth unexpectedly slowed to the weakest pace since 2011 as government spending fell, countering gains in private consumption and industrial production. Stocks slipped.

Gross domestic product increased 5.3 percent in the three months through September from a year earlier, the Philippine Statistics Authority said in Manila today, after rising 6.4 percent in the previous quarter. That is lower than all estimates of 24 economists in a Bloomberg survey.