Growth of the Philippine economy further eased to 3.4 percent in the second quarter from a revised 4.6 percent in the first quarter, bringing the country’s first semester growth at an average 4.0 percent.  Second quarter growth was aided specifically by the rebound in agriculture production and the modest expansion of the services sector.

In CAR, leading economic indicators continue to show a resilient regional economy with the agriculture and mining sectors registering upbeat year-on-year performances despite the slowdown in PEZA exports, tourist arrivals and regional revenue collection.

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