Second quarter GDP growth rate revised to 12% from 11.8%
The second quarter Gross Domestic Product (GDP) growth rate was revised upward to 12 percent from the preliminary estimate of 11.8 percent, the Philippine Statistics Agency ( PSA) said Monday.
Major contributors to the revision were growth rates in education, from 10 percent to 12.6 percent; dinancial and insurance activities, from 4.2 percent to 5.2 percent; and construction, from 25.7 percent to 27.1 percent.
The third quarter GDP growth figures will be announced Tuesday.
The growth rate in Net Primary Income (NPI) from the Rest of the World recorded a downward revision from -53.8 percent to -54.4 percent.
Meanwhile, the growth rate in Gross National Income (GNI) in the second quarter of 2021 recorded an upward revision from 6.6 percent to 6.8 percent. PSA