Philippine 3Q GDP was reported at 6%.
2nd GDP was revised higher to 5.8%. The revision was due to Other Services; Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods; and Construction.
I haven't seen the data. But obviously the slump in the growth rates of OFWs remittances didn't matter to consumer spending. So as with soaring personal savings. The downturn in manufacturing-export had only positive influence to investments and income. And falling prices in the real economy (based on other government data) had no negative effect to the statistical GDP. According to Philippine GDP, the demand curve does not slope downwards.
Down is Up. Low is High. Less is More.
The only thing that matters are prices of stocks and real estate!
Sadako lives!
Or has this been about the forthcoming national elections?
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