Inflation & Prices
Philippines Growth Momentum Falters in 2024 as Risks Rise
- Growth in investments slumped, consumption gains slowed
- Sputtering expansion may prompt more rate cuts, official says
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The Philippine economy grew slower than expected in the fourth quarter and for the full year, dragged by sluggish investment, consumption and farm output that may spark more monetary policy easing.
Gross domestic product in October to December rose 5.2% from a year earlier, the statistics agency said on Thursday. That’s below the 5.5% median estimate in a Bloomberg News survey and matches the 5.2% pace in July to September.