RPT-Philippines Q3 growth slower than forecast

* Q3 growth lower than market estimates

* Q2 annual growth revised down to 0.8 pct

* 9-month GDP growth at 0.7 percent

MANILA, Nov 26 - Philippine third-quarter gross domestic product data released by the government on Thursday.

KEY DATA

GDP 2009 2008

---------------- ----------------------

(in pct) Q3 Q2 Q1 Q4 Q3 Q2 Q1

Year/year change 0.8 0.8 0.4 2.9 4.6 4.2 3.9

Qtr/qtr change 1.0 1.7 -2.1 0.3 0.7 1.7 0.1

NOTE:

Quarter on quarter changes are seasonally adjusted.

CONTEXT:

- A Reuters poll of 10 economists had forecast that third quarter annual growth would come in at 1.7 percent, due to stronger domestic consumption, driven mainly by strong inflows of remittances from Filipinos working overseas. [ID:nMAN405396]

- The same poll predicted the economy grew by a seasonally adjusted 1.3 percent in the third quarter, lower than the previous quarter's 2.4 percent expansion.

- The government had expected third quarter growth to come in between 1.6-2.6 percent from a year earlier, putting the country on track to meet its full-year growth target of 0.8-1.8 percent. [ID:nMAN503071]

- The central bank kept its policy rate at a record low of 4 percent for the third meeting in a row this month and has said there is enough leeway for it to maintain an easy policy. [ID:nSP435821]

LINKS

- For details, see the statistical board website http://www.nscb.gov.ph - For a look at ASIA Q3 GDP results......[ID:nSP111661]

- For Reuters polls on Asian economies...[ID:nSP523254]

(Reporting by Karen Lema) ((karen.lema@thomsonreuters.com; +632 841-8938; Reuters Messaging: karen.lema.reuters.com@reuters.net)) (