RTTNews - Philippines' gross domestic product climbed a seasonally adjusted 2.4% sequentially in the second quarter, reversing a revised 2.1% fall in the first quarter, thus effectively avoiding a recession, the National Statistical Coordination Board said Thursday. Economists were expecting a 1.5% growth in GDP.
Year-on-year, the GDP climbed 1.5% in the three months ended June, slower than the 4.2% growth seen in the same quarter last year. Economists expected a growth of 0.5%.
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