PSA: GDP growth rate para sa Q3 ng 2024, umabot sa 5.2%

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PSA: GDP growth rate para sa Q3 ng 2024, umabot sa 5.2%;  Pilipinas, nananatili bilang isa sa fastest-growing economies sa Asya  For more news, visit:  ►https://www.ptvnews.ph/  Subscribe to our DailyMotion Channel: ►http://www.dailymotion.com/peoples-television-incorporated  Subscribe to our YouTube channel: ►http://www.youtube.com/ptvphilippines  Like our Facebook pages: ►PTV: http://facebook.com/PTVph  ►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas  Follow us on Twitter:  ►http://twitter.com/PTVph  Follow us on Instagram: ►https://www.instagram.com/ptvph  Watch our livestream on:  ►http://ptvnews.ph/livestream/ ►https://www.dailymotion.com/PTVPhilippines  Watch our News Programs, every Mondays to Fridays  Rise and Shine Pilipinas - 6:00 - 8:00 am Bagong Pilipinas Ngayon - 12:00 - 1:00 pm Sentro Balita - 1:00 pm - 2:00 pm Ulat Bayan - 6:00 pm - 7:00 pm PTV News Tonight -  9:30 pm - 10:30 pm  Saturday & Sunday: ►Ulat Bayan Weekend - 6:15 pm - 7:00 pm

Transcript

00:00The Philippine economy is continuing to grow.

00:03This is confirmed by the country's expected growth in gross domestic product

00:07which is at 5.2% in the third quarter of the year.

00:12This is Quenzel Bocobo of IBC 13 with the country's latest news.

00:19Alan, based on the data provided by the Philippine Statistics Authority or PSA,

00:23the Philippine gross domestic product is expected to grow at 5.2% in the third quarter of 2024.

00:30Gross national income is also expected to grow at 6.8% and net primary income is expected to grow at 19.3%.

00:38In the press conference held by the Philippine Statistics Authority earlier,

00:42NEDA Secretary Arsenio Balizacan explained that the average GDP growth in the first three quarters of this year is 5.8%.

00:51This is close to the expected 6-7% growth rate of the country.

00:56One of the reasons for the slow growth of the economy today

01:00is the problems we are facing such as the oil spill of this July,

01:04the El Nino season,

01:05and the recent typhoons that affected the production of our agriculture

01:09and the shutdown of some local services.

01:12Even so, Secretary Balizacan emphasized that we are still one of the fastest-growing economies in Asia.

01:20The countries that have reported that their third quarter GDP growth rates,

01:25we remain one of the fastest-growing Asian economies.

01:29We follow Vietnam, which posted a 7.4% growth rate,

01:34and are ahead of Indonesia with 4.9%,

01:39China 4.6%,

01:41and Singapore 4.1%.

01:46If we look at the GDP rate of the country year by year,

01:49we can still see the continuous growth of our economy.

01:53The main factors that pushed it today are the industry of wholesale and retail trade,

01:57which embarked on 1.1% GDP,

02:01followed by financial and insurance activities that have 0.9% points,

02:07construction that has 0.63% points, and others.

02:11There is also an increase in the two major sectors of our economy.

02:15There is a 5% year-on-year growth in our industry and 6.3% in services.

02:21Despite the good data,

02:23there is still a continuous movement to improve the current administration of our economy

02:28through the improvement of our tourism,

02:32investment in our technology,

02:34implementation of ease of doing business,

02:36strengthening our labor workforce, and many more.

02:40That is the latest here in PSA. Alan?

02:43Thank you very much, Quenzel Bukobo.

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