(MENAFN) The Philippine economic growth in the July-September period of this year posted a slower growth of 7 percent as a result of typhoons and monsoons, Xinhua reported.
The National Statistical Coordination Board (NSCB) released data that shows the extent of the damage caused to the agriculture sector by the natural crises. The sector only grew 0.3 percent in the quarter compared to 4.4 percent in the same period last year.
The industrial and services sectors posted a considerably better growth rate with an expansion of 8.2 percent and 7.5 percent.
The country's gross domestic product (GDP) grew 7 percent in the third quarter, which is lower than the 7.6 percent growth registered in the second quarter and the 7.3 percent expansion in last year's third quarter.
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