Philippines Revised GDP Growth To 7.5 Percent In Q2

Philippines Revised GDP Growth To 7.5 Percent In Q2

MANILA, Nov 9 (NNN-PNA) – The Philippine Statistics Authority (PSA), today revised its gross domestic product (GDP) growth rate, in the second quarter, to 7.5 percent from 7.4 percent. The PSA said, major contributors to the upward GDP revision were growth rates in construction, from 19 percent to 19.5 percent, real estate and ownership of dwellings, from 3.9 percent to 4.4 percent, and manufacturing, from 2.1 percent to 2.2 percent.

The growth rate in Net Primary Income (NPI), from the rest of the world, recorded an upward revision from 64.8 percent to 65.3 percent, added the PSA.

Despite the upward revisions of GDP and NPI, the agency maintained, the growth rate of gross national income in the second quarter at 9.3 percent.

– NNN-PNA

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