THE Philippine economy grew 6.5 percent in the second quarter of 2017, accelerating from 6.4 percent in the first quarter due largely to bigger government spending amid a slack in private investment, official data showed on Thursday. Growth in the second quarter stood within the 5.8 percent to 6.8 percent range forecast by private analysts polled earlier by The Manila Times. Compared with the year-earlier, which registered growth of 7.1 percent, gross domestic product (GDP) slowed in the second quarter. The second-quarter pace brought the first-half rate of growth to 6.4 percent, losing steam from 7 percent in the first half of 2016, the data released by the Philippine Statistics Authority showed. The first-half 2017 figure fell short of the full-year target set by the government at 6.5 percent to 7.5 percent.

Source: Manila Times August 17, 2017 03:22 UTC