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Monitoring The Philippine Economy Year-End Report For 2016, Mitzie Irene P. Conchada, Regina S. Villasor

Angelo King Institute for Economic and Business Studies (AKI)

Philippine economic growth topped regional performance for 2016. In line with election-year market expectations, annual growth accelerated to 6.9 percent from 6.0 percent in 2015, surpassing China (6.7%) and Vietnam (6.2%). Despite the global economic slowdown, Philippine growth has continuously improved since 2015, showing resilience to external shocks with manufacturing expansion. On the demand side, household consumption and investments flourished with modest inflation and strong imports. On the supply side, the industry sector led as the service sector slowed down. Meanwhile, the agriculture sector continues to contract with the onslaught of weather disruptions like typhoons Karen and Lawin.