GROSS DOMESTIC PRODUCT (GDP) growth in the second quarter was upwardly revised to 6.4% from the 6.3% initially reported, the Philippine Statistics Authority (PSA) said on Wednesday.
The PSA said revised estimates for growth in manufacturing (3.9% from 3.6%); accommodation and food service activities (12.1% from 10.4%); and real estate and ownership of dwellings, (7.6% to 7.2%) were behind the upgraded GDP reading.
Gross national income was also revised upward to 8.1% from 7.9%. Meanwhile, the net primary income from the rest of the world for the second quarter was upgraded to 25.7% from 24.7%, the PSA said.
The PSA was due to announce preliminary third-quarter GDP data on Thursday, Nov. 7.
A BusinessWorld poll of 12 economists and analysts conducted last week yielded a median estimate of 5.7% GDP growth in the three months to September. — Aubrey Rose A. Inosante
