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Financial News: Philippine Q2 GDP Growth Revised Up

Philippine Q2 GDP Growth Revised Up

11/09/2022 - 00:21:00 (RTTNews)

(RTTNews) - The Philippine economy grew slightly more than previously estimated in the second quarter, revised data from the Philippine Statistics Authority showed on Wednesday.

Gross domestic product advanced 7.5 percent in the second quarter, which was revised up from 7.4 percent. The pace of expansion was weaker than the first quarter's 8.2 percent growth.

The major contributors to the upward revision were construction, real estate and ownership of dwellings and manufacturing.

The statistical office is slated to publish the preliminary national accounts for the third quarter on November 10. Economists expect the annual growth rate to ease further to 6.3 percent.

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