Synchronous expansion pushes 2Q GDP up 4.9%

· BRINGS 1H GROWTH TO 4.8% AFTER A SIMILAR EXPANSION IN 1Q · CENSUS AND STATISTICS DEPARTMENT CITES REOPENING VEHICLE IMPORTS AND LOWER LENDING RATES AS CORE PILLARS FOR 2Q GROWTH · INDUSTRY LEADS 2Q EXPANSION AS SECTOR LOGS IN A ROBUST 5.8% GROWTH · BACK-TO-BACK GROWTHS OF 5% FOR TWO YEARS APPEAR POSSIBLE WITH 2H NUMBERS TYPICALLY BEING STRONGER

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Gross domestic product (GDP), the value of the total goods and services produced by the economy, in the second quarter of 2025 rose by a robust 4.9 percent.

This is a pickup from the 4.8 percent growth seen in the first quarter, reflecting the persistent strength in the economy for the last eight quarters straight, since the economy broke the declining spiral two years ago.

The second quarter growth was lifted mostly by the solid showing from the industry sector; other key sectors too grew, helping the economy to expand at a tad faster rate than in the first quarter.