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Philippines revises Q1 GDP growth down to 6.6 pct
Last Updated: 2018-08-09 13:50 | Xinhua
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The Philippine economy grew by 6.6 percent in the first quarter of 2018, according to revised figure released by the Philippine Statistics Authority (PSA) on Wednesday.

"The first quarter 2018 gross domestic product (GDP) was revised to 6.6 percent from 6.8 percent," the PSA said in a statement.

The PSA said the major contributors to the downward revision were other services, manufacturing, and agriculture and forestry.

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

Moreover, the PSA said gross national income (GNI) and net primary income (NPI) from the Rest of the World (ROW) were revised to 6.3 percent and 5.0 percent from 6.4 percent and 4.3 percent, respectively.

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