Fourth quarter 2018 GDP revised upward to 6.3%

April 4, 2019

The Philippine Statistics Authority ( PSA) said Thursday fourth quarter growth was revised upward from a gross domestic product ( GDP) growth of 6.1 percent to 6.3 percent.

''The PSA revises the GDP estimates based on an approved revision policy which is consistent with international standard practices on national accounts revisions,'' it said.

Major contributors to the upward revision were trade and repair of motor vehicles, motorcycles, personal and household goods and public administration and defense; compulsory social security.

Gross national income and net primary income had upward revisions from 5.2 percent to 5.7 percent and from 0.9 percent to 2.7 percent, respectively.

Although revisions were noted in the quarterly growth, the annual growth rate of GDP for 2018 was maintained at 6.2 percent.

Similarly, annual GDP growth rates for 2016 and 2017 were maintained at 6.9 percent and 6.7 percent, respectively. DMS