MANILA : Philippine economic growth in the third quarter was"much better than consensus forecast", the finance minister said on Thursday ahead of the official release of data.
A slew of positive data, including the lowest unemployment rate since the start of pandemic, strong remittance inflows and a rise in reserves supported better than expected gross domestic product growth in the July to September period, Finance Secretary Benjamin Diokno told Reuters.Analysts polled by Reuters forecast third-quarter GDP grew 6.3 per cent on an annual basis. Official data will be released at around 0200 GMT.
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