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Manila Bulletin devider Business devider PSA revises Q2 growth to 12%

PSA revises Q2 growth to 12%

Published Nov 8, 2021 12:05 pm

The country’s economic growth performance for the second-quarter was slightly revised upward by the Philippine Statistics Authority (PSA).

In its report on Monday, Nov. 8, PSA said the economy, or gross domestic product (GDP), expanded by 12 percent in April to June 2021, a revision of the earlier estimate of 11.8 percent.

“Major contributors to the revision were the growth rates in Education, from 10.0 percent to 12.6 percent; Financial and insurance activities, from 4.2 percent to 5.2 percent; and Construction, from 25.7 percent to 27.1 percent,” PSA said.

Moreover, PSA said the growth rate in gross national income (GNI) in the second quarter also recorded an upward adjustment from 6.6 percent to 6.8 percent.

However, the growth rate in net primary income (NPI) from the rest of the world registered a downward revision from -53.8 percent to -54.4 percent, the statistics authority added.

The PSA revision came a day before of the release of the third-quarter economic performance report.

Related Tags

Economic recovery Philippine Statistics Authority PSA econnomic growth GDP Gross domestic product
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