MANILA, Philippines—The Philippine gross domestic product (GDP) grew at its slowest pace since the second quarter of 2021 and, as stressed by a think tank, one of the main reasons for the slowdown is the 'continuing deceleration in household spending.' Last Thursday (May 11), the Philippine Statistics Authority (PSA) said GDP grew by 6.4 percent in the first quarter of 2023. This, however, was slower than the 7.1 percent in the last quarter of 2022 and 8 percent in the first quarter of 2022. Philippines' GDP growth above-target at 6.

https://newsinfo.inquirer.net/1769686/govt-fix-sought-as-household-spending-continues-slide-gdp-growth-slowest-in-7-quarters

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