BusinessWorld E-paper
May 12, 2023
THE PHILIPPINE ECONOMY grew by 6.4% in the first quarter, the slowest in two years as elevated inflation and rising interest rates
dampened consumer spending, the statistics agency said on Thursday.
Preliminary data from the Philippine Statistics Authority (PSA) showed that gross domestic product (GDP) expanded by 6.4% in the January-to-March period, slower than the revised 7.1% growth in the previous quarter, and the 8% expansion in the first quarter of 2022.
