Gov’t bumps up Q2 growth to 6.7%
The economy grew faster than what authorities initially saw.
The Philippine Statistics Authority (PSA) has revised gross domestic product (GDP) growth for the second quarter of 2017 from the initial 6.5 percent to 6.7 percent.
The revision came a day before the government reports third quarter growth data, with the revision coming three months after the initial announcement was made.
“The top three contributors to the upward revision were: Financial Intermediation; Construction; and Real Estate, Renting and Business Activities,” the PSA said in a statement.
Economic managers have said that increased infrastructure spending would drive faster GDP growth, and it may have started as early as the second quarter.