Economy recovers after slow quarter

Nov 10, 2023 12:25 am

(UPDATE) THE Philippine economy grew by a better-than-expected 5.9 percent in the third quarter, the government reported on Thursday, with a rebound in state spending said to have particularly factored in the acceleration.

The result, while down from 7.7 percent a year earlier, was an improvement from the disappointing 4.3 percent posted in the second quarter. It was also markedly higher than the 4.9 percent median forecast in a Manila Times poll of economists.

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