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Home Investing News

Philippines Q2 GDP grows 7.4% year on year

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August 9, 2022
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Philippines Q2 GDP grows 7.4% year on year
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DMITRY-BERDNYK/UNSPLASH

MANILA – The Philippine economy expanded slower than expected in the second quarter, data showed on Tuesday, losing its momentum as red-hot inflation curbed consumer spending.

The Southeast Asian country’s gross domestic product rose 7.4% in the June quarter from a year earlier, slower than the downwardly revised 8.2% growth in the previous quarter and the 8.6% growth forecast in a Reuters poll. — Reuters

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