![PH 2023_0131](https://firstmetro.com.ph/wp-content/uploads/2024/01/PH-2023_0131.jpg)
- The Philippines’ GDP rose more than economists expected in 4Q.
- GDP rose 5.6% y/y (estimate +5.2%) in 4Q versus revised +6% in 3Q, according to the Philippine Statistics Authority
** Estimates range +3.9% to +6.1%, 24 economists - GDP rose 2.1% q/q (estimate +1.7%)
** Estimates range +0.8% to +3.1%, 8 economists - Agricultural production rose 1.4% y/y
- Industrial production rose 3.2% y/y
- Services rose 7.4% y/y
- Government spending fell 1.8% y/y
- Consumer spending rose 5.3% y/y
- Investment rose 11.2% y/y
- Exports fell 2.6% y/y