Philippines revises Q3 GDP growth to 7% from 6.9%

The Philippine Statistics Authority (PSA) has revised the third-quarter economic growth to 7 percent, citing three sectors that prompted the revision.

The gross domestic product (GDP) grew by 6.9 percent in the third quarter of 2017.

“The top three contributors to the upward revision were: Manufacturing; Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods; and Mining and Quarrying,” the PSA said.

Consistent with international standard practices on national accounts, the statistics office revises the quarterly GDP numbers on a regular basis.

In the same statement, the PSA revised the gross national income—the total output of Filipino residents—to 6.8 percent from 6.7 percent. —Jon Viktor Cabuenas/VDS, GMA News