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Philippines revises up Q2 GDP growth to 12 pct

MANILA
2021-11-08 16:39

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MANILA, Nov. 8 (Xinhua) -- The Philippines has revised the gross domestic product (GDP) growth rate of the second quarter of 2021 to 12 percent from the preliminary estimate of 11.8 percent, the Philippine Statistics Authority (PSA) said on Monday.

The PSA said the major contributors to the revision were the growth rates in education, from 10 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.

"The growth rate in Net Primary Income from the Rest of the World recorded a downward revision from -53.8 percent to -54.4 percent," the PSA said in a statement.

Meanwhile, the PSA said the growth rate in gross national income in the second quarter of 2021 was also revised from 6.6 percent to 6.8 percent.
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