The latest data from the Philippines shows that the country's GDP growth has slowed to 1.3% in the first quarter of 2024, down from 2.1% in the previous quarter. This decrease marks a noticeable shift in economic performance for the nation. The comparison, done on a quarter-over-quarter basis, indicates a significant drop in growth rate.
The update, released on 9th May 2024, reveals a challenging economic landscape for the Philippines. With slowing GDP growth, policymakers and analysts are closely monitoring the situation to gauge the potential impact on the country's overall economic health. As the Philippines navigates these changes, stakeholders will be looking for strategies to stimulate growth and ensure a stable economic trajectory moving forward.