Philippine Economic Growth Slows to 5.2% in Third Quarter: What It Means for the Nation

The Philippine economy experienced a deceleration in growth during the third quarter of 2024, recording a rate of 5.2%, according to the latest data released by the Philippine Statistics Authority. This marks a notable decline from the robust 6.5% annual growth seen in the previous quarter and falls short of initial forecasts that anticipated a growth spurt of about 5.8% to 6.0% for this period. Analysts and economists are now reflecting on the implications of this downturn as various internal and external factors come into play.

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