MANILA — The country’s economic growth remained at 7.6 percent in the third quarter of the year 2022.
According to the report of the Philippine Statistics Authority (PSA), this is the same as the recorded economic growth last November.
Although the economic growth is the same, it is noticeable that there has been a change especially in all industries except public administration and defense as well as in compulsory social activities.
Main contributors to economic growth are real estate and ownership of dwellings which hit 3.6 percent from the previous 3.1 percent; financial and insurance activities hit 7.9 percent from the previous 7.7 percent and manufacturing climbed to 3.8 percent from 3.6 percent.
It is known that throughout 2022, the country’s full-year GDP growth is expected to hit 6.5 to 7.5 percent.
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