The Philippine economy grew a better-than-expected 8.3% in the first quarter of 2022, driven by private consumption. The latest gross domestic product (GDP) growth figure is an improvement from the revised -3.9% for the same period last year. The Philippine economy grew at an annual rate of 6.1% in the first quarter of 2015 compared to the same period last year. Private consumption boosted growth by 10.1%, a stark reversal from the -4.8% figure in the previous quarter.
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