Philippine economy grows by 5.7% in Q1 2024Men pull a trolley of agricultural products along a street in Manila on May 9, 2024. MANILA, Philippines — The country’s economy grew by 5.7% in the first three months of 2024, the Philippine Statistics Authority (PSA) said. Here are the growth figures for major economic sectors on a quarter-on-quarter basis:Agriculture, forestry, and fishing: -0.3%Industry: 2.6%Services: 1.0%. On April 8, the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB) retained its target reversed repurchase rate at 6.5%. This has been the MB retained its policy rates since its off-cycle rate hike in October 2023 to mitigate supply-side inflation pressures.

Source: Philippine Star May 09, 2024 15:32 UTC