THE Philippine Statistics Authority (PSA) on Thursday reported that the Philippine economy grew at a faster pace in the first quarter of 2024 compared to the previous three-month period despite elevated inflation and interest rates, but the growth was below expectations.
The PSA said the gross domestic product (GDP) grew by 5.7% in January-March 2024, higher than the revised 5.5% figure reported for the fourth quarter of 2023.
The latest figure, however, is lower than the 6.4% expansion posted in the first quarter of 2023.
