Philippines First-Quarter GDP Rose 6.4%

Commuters stroll along an overpass at Taguig City in Metro Manila, Philippines. Photo: Veejay Villafranca/Bloomberg News

The Philippine economy grew in the first quarter 2023, although at a slower rate, due to a broad-based expansion in services, industries and agriculture sectors.

Data from the Philippine Statistics Authority on Thursday showed that the country's gross national product increased by 6.4% compared to a year ago, after a 7.1% increase in the last quarter of 2022.