Q4 economic growth in 2018 adjusted upward
Credit to Author: The Manila Times| Date: Thu, 04 Apr 2019 04:38:04 +0000
THE Philippine Statistics Authority (PSA) on Thursday revised the fourth quarter of 2018 economic growth to 6.3 percent from the previous 6.1 percent.
“Major contributors to the upward revision were trade and repair of motor vehicles, motorcycles, personal and household goods and public administration and defense, and compulsory social security,” PSA said in a report.
The Gross National Income (GNI) and Net Primary Income (NPI) were also revised from 5.2 percent to 5.7 percent and from 0.9 percent to 2.7 percent, respectively.
Despite the upward revisions, the annual economic growth for 2018 remained at 6.2 percent.
PSA said it revised the Gross Domestic Product (GDP) estimates based on an approved revision policy consistent with international standard practices on national accounts revisions. ANNA LEAH E. GONZALES
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