Q2 GDP unchanged at 5.5% despite revisions in some industries

MANILA, Philippines — The Philippines’ gross domestic product growth rate in the second quarter remained at 5.5% although there were revisions in some industries, the Philippine Statistics Authority reported Wednesday.

In a statement, the PSA said that after a review of the second quarter GDP accounting, changes were noted in the following industries:

• Transportation, Storage, and Communication (from 5.5% to 5.9%)
• Public Administration and Defense Compulsory Social Security (from 8.0% to 8.6%)
• Agriculture and Forestry (from 0.1% to 0.4%)

“The PSA revises the GDP estimates based on an approved revision policy which is consistent with international standard practices on national accounts revisions,” the statistics agency said.

The government will release its third-quarter GDP data on Thursday. — Ian Nicolas Cigaral

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