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According to Philippine Statistics Authority, the Gross Domestic Product (GDP) grew year-on-year by 7.1 percent in the third quarter of 2016. National Statistician and Civil Registrar General Lisa Grace Bersales said the growth was driven by Manufacturing, Trade, and Real Estate, Renting and Other Business Activities.

“This is higher than the growth rates of 7.0 percent in the second quarter of 2016 and 6.2 percent in the third quarter of 2015,” Bersales noted.

Among the major sectors, Services posted a growth of 6.9 percent in the third quarter of 2016, lower than the 7.2 percent growth in the previous year.

On the other hand, Industry accelerated to 8.6 percent compared with 6.1 percent in 2015. Meanwhile, after five consecutive quarters of decline, Agriculture rebounded to 2.9 percent in the third quarter of 2016. In the same period last year, it declined by 0.1 percent.