Philippine economy grew 6.1% in fourth quarter

January 24, 2019

The Philippine economy drew 6.1 percent in the fourth quarter of 2018, resulting in the 6.2 percent full-year growth for 2018, the Philippine Statistics Authority said Thursday.

The economy grew 6 percent in the third quarter. 

The main drivers of growth for the quarter were construction; trade and repair of motor vehicles, motorcycles, personal and household goods; and other services.

Among major sectors during the fourth quarter of 2018, industry had the fastest growth, with 6.9 percent. This was followed by services, which grew by 6.3 percent, and agriculture, by 1.7 percent.

In a statement by the country's economic managers,  they said ''this steady performance—the seventh consecutive year that the Philippine economy sustained its growth of more than 6.0 percent—brings our 2018 full-year growth to 6.2 percent.''DMS