The latest data on the Gross Domestic Product (GDP) of the Philippines reveals a growth of 5.7% in the first quarter of 2024. This marks an increase from the previous quarter, which had seen the GDP at 5.5% in the fourth quarter of 2023. The comparison is year-over-year, showing a positive trend in the country's economic performance.
The information was updated on May 9, 2024, indicating a recent assessment of the economic landscape in the Philippines. The GDP growth rate is a key indicator of a country's economic health, reflecting the overall value of goods and services produced. With a rise to 5.7% in the first quarter of 2024, the data suggests a growth trajectory for the Philippine economy, showcasing resilience and potential for further development in the coming months.
