MANILA, Philippines (UPDATE) – The local economy expanded by 6.5% in the third quarter from a year ago, below market expectations and slower than the growth in the first half, data from the economic planning agency showed.
Gross domestic product (GDP) growth for the July to September period was below the revised 8.2% and 7.8% jumps recorded in the second and first quarters, respectively. It was also lower than the 6.8% estimate in a previous Reuters poll of economists.
The third-quarter figure brought the average GDP growth for the first 9 months to 7.5%, well above the full-year government target of 5% to 6%.
Meanwhile, GDP contracted by a seasonally adjusted 0.5% in the third quarter.
The National Economic Development Authority (NEDA) said third-quarter economic growth was expected to lose some strength as effects of government pump-priming and election spending faded.
Despite this, NEDA chief Cayetano Paderanga expects the economy could exceed the 2010 forecast this year.
The Bangko Sentral ng Pilipinas (BSP) said it may keep its policy rate steady at a record low of 4% even with sustained economic growth.
Interest rates have remained unchanged for the 12th straight central bank policy meeting on November 18, and these are likely to stay the same going into 2011 due to benign inflation outlook.
The Philippines is one of few Asian countries not to have raised interest rates yet since the global financial crisis. – With a report from Reuters
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
