MANILA – The Philippine Statistics Authority (PSA) has revised downward the country’s third quarter 2018 economic growth to 6.1 percent, citing three sectors that prompted the revision.
“The third quarter 2018 gross domestic product (GDP) growth was revised down to 6.0 percent from 6.1 percent,” the PSA said.
The revision was attributed to the downward revisions in manufacturing; trade and repair of motor vehicles, motorcycles, personal and household goods; and financial intermediation.
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 5.8 percent from 6.0 percent.
The PSA’s revision came a day ahead of its announcement of the fourth quarter and full year 2018 GDP print on Thursday, January 24. (GMA News)
