MANILA, Philippines — The Philippines’ first quarter economic growth has been revised down.
In a statement Wednesday, the Philippine Statistics Authority said the country’s gross domestic product was adjusted to 6.6 percent from 6.8 percent, below the government’s 7-8 percent target range.
“Major contributors to the downward revision were other services, manufacturing, and agriculture and forestry,” the PSA said.
Meanwhile, gross national income and net primary income from the rest of the world were revised to 6.3 percent from 6.4 percent and to 5.0 percent from 4.3 percent, respectively.
The PSA will release the second quarter GDP data hours before the Bangko Sentral ng Pilipinas’ policy meeting on Thursday, August 9. — Ian Nicolas Cigaral