The Philippine economy regained its footing in the third quarter of 2023, following a slowdown seen in the previous quarter, the Philippine Statistics Authority reported on Thursday. The economy, as measured by gross domestic product or the total value of goods and services produced in a period, grew by 5.
9% during the July to September 2023 period, PSA chief and National Statistician Claire Dennis Mapa said at a press conference. This is faster than the 4.3% growth rate seen in the second quarter of the year —its slowest pace in nine quarters since the country entered the positive territory in the middle of 2021 following a pandemic-induced recession. —VAL, GMA Integrated News
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