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The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
webinar-thumb-1108
Estate Planning: Building a Legacy for the Future 
November 8, 2022
Webinar-mobile-desktop-267x320-1
Outlook 2022: Recover. Restart. Rebalance.
March 31, 2022
View All Webinars
Downloads
grocery-shopping-cart-as
Economic Updates
November 2023 Updates: Upward tilt of inflation still a possibility 
November 22, 2023 DOWNLOAD
Commuters-aa
Economic Updates
3Q 2023 PH GDP Report: Upward bias for full-year GDP forecast
November 10, 2023 DOWNLOAD
rates-bonds-market-ss
The Radar
An opportunity to add duration
November 9, 2023 DOWNLOAD
View all Reports
Economy 4 MIN READ

1st quarter GDP growth exceeds expectations 

Economic growth is picking up, but challenges still remain because of elevated inflation, high interest rates, and a looming El Niño.

May 12, 2023By Metrobank
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The Philippine economy expanded by 6.4% year-on-year in the 1st quarter of 2023, faster than the 6.1% median analyst poll forecast and still within the government’s full-year target of 6%-7%. While a softer landing versus last year, the country still posted faster growth in the 1st quarter vs major emerging economies, indicating that the Philippines’ growth is normalizing back to its pre-pandemic trajectory as economic activity fully resumed.

Challenges, however, still remain amid still-elevated inflation, high interest rates, a looming El Niño, and a weaker global demand. Nonetheless, the Philippines is still expected to experience robust growth in 2023, with full year GDP growth expansion seen to settle at 6% at the lower end of the government’s target range of 6%-7%.

For more information, please see our full report.

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