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Philippine annual GDP growth slows to 2.1% in third quarter
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Services support growth as agriculture contracts
Philippine GDP grew 2.1% from a year earlier in the third quarter, slowing from 2.4% in the second quarter, Philstar reported on November 9, citing newly released Philippine Statistics Authority figures. Services expanded 3.7%, contributing 2.5 percentage points to overall growth. Agriculture, forestry and fishing contracted 4.8%, while industry was nearly unchanged. Services’ contribution exceeded total GDP growth, meaning the remaining sectors collectively offset part of that expansion. The figures measure economic activity during July–September.