Gross Domestic Product
Gross Domestic Product (GDP) posted a quarter-on-quarter growth  of 1.7 percent in the third quarter of 2024. Professional and business services; Transportation and storage; and Financial and insurance activities were the top contributors to the quarter-on-quarter growth.

Among the three major economic sectors, Services posted the fastest quarter-on-quarter growth of
2.2 percent. This was followed by Industry and Agriculture, forestry, and fishing, which grew quarter-on-quarter by 1.0 percent and 0.3 percent, respectively.

Gross National Income
Gross National Income (GNI) posted a quarter-on-quarter growth of 3.0 percent in the third quarter of 2024.

Household Final Consumption Expenditure
Household final consumption expenditure grew quarter-on-quarter by 2.8 percent in the third quarter of 2024. The top contributors to the growth were Restaurants and hotels; Food and non-alcoholic beverages; and Miscellaneous goods and services.

Agriculture, Forestry, and Fishing
Agriculture, forestry, and fishing posted a quarter-on-quarter growth of 0.3 percent in the third quarter of 2024. This was mainly due to the growth of Corn; Other agricultural crops; and Tobacco.

Industry
Industry posted a quarter-on-quarter growth of 1.0 percent in the third quarter of 2024. Manufacturing; Construction; and Electricity, steam, water and waste management were the top contributors to the quarter-on-quarter growth.

Services
Services recorded the fastest quarter-on-quarter growth among the three major economic sectors in the third quarter of 2024 with 2.2 percent. The top contributors to the quarter-on-quarter growth were Professional and business services; Transportation and storage; and Financial and insurance activities. 
 

CLAIRE DENNIS S. MAPA, PhD 
Undersecretary 
National Statistician and Civil Registrar General
 

See more at the Seasonally Adjusted National Accounts page