Third quarter growth rate revised to 6.9% from 7.1%: PSA
Gross domestic product growth in the third quarter was revised downward to 6.9 percent from the preliminary estimate of 7.1 percent, the Philippine Statistics Authority (PSA) said Wednesday.
Major contributors to the downward revision were: financial and insurance activities, from 6.4 percent to 3.9 percent; professional and business services, from 11.5 percent to 10.6 percent; and real estate and ownership of dwellings, from 4.7 percent to 3.8 percent.
Growth rate in Net Primary Income (NPI) from the rest of the world recorded an upward revision from -52.3 percent to -50.6 percent.
Meanwhile, the growth rate in Gross National Income (GNI) in the third quarter recorded a downward revision from 2.8 percent to 2.7 percent.
The revision came a day before the PSA announces fourth quarter growth numbers. DMS
