ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Philippine economy expands at slowest pace in four years

Slowdown in first quarter bolsters view for interest rate cut

A market stall in Manila. Calls to cut interest rates have grown as inflation has returned to the central bank's 2% to 4% target range after six straight months of easing consumer prices.   © Reuters

MANILA -- The Philippine economy grew 5.6% in the first quarter of 2019, missing the government's target as a budget impasse at the start of the year weighed on the country's overall output.

Gross domestic product in the first three months of the year rose at its slowest pace in four years and marked the first time in 16 quarters that the Philippine economy expanded at less than 6%, the Philippine Statistics Authority said on Thursday. The country's GDP growth also fell below the government's 6% to 7% target range for 2019.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more