PH Q2 growth revised up to 7.6%

This means the Philippines grew faster than regional powerhouse China

 

MANILA, Philippines – The government revised upward the country’s gross domestic product (GDP) growth for the second quarter of 2013.

In a statement Wednesday, November 27, the National Statistical Coordination Board (NSCB) said the Philippines grew 7.6% in the April to June period, faster than the 7.5% it reported earlier.

This means the Philippines grew faster than regional powerhouse China, whose economy expanded 7.5% in the June quarter.

The revised figure brought GDP growth in the first half to 7.65%, up from the previous 7.6%.

NSCB said the largest contributor to the upward revision was the 0.2 percentage-point increase in the growth of the Transport, Storage and Communication sector.

Net Primary Income was revised downward by 0.09 percentage point. This resulted to the downward revision of Gross National Income to 6.4% from 6.8%.

NSCB will release Thursday, November 28 the Philippines’ third-quarter GDP data. – Rappler.com

 

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