RSS

Philippine Statistics Authority retains estimate for second quarter economic growth

27 Nov

The Philippines’ main statistics agency has kept its second quarter economic growth estimate.

In a report today, the Philippine Statistics Authority (PSA) said the country’s gross domestic product (GDP) had grown by 6.4%, unchanged from the agency’s initial estimate issued last August.

“The revisions in the different industries/sectors were not significant enough to affect the change in the growth rate,” PSA said.

FREE Educational Resources on Investments and Stock Trading!

This means the first-half growth remained at 6%. This was lower than the 7.8% last year and well below the full-year target of 6.5-7.5% for 2014.

PSA however revised upward its estimate for net primary income from the rest of the world (NPI) to 13.8% from the August estimate of 12.7%.

NPI includes overseas Filipino workers’ income and residents’ investment income from abroad less their expenses.

Economic Planning Secretary Arsenio Balisacan yesterday said government under spending last quarter may have dampened third-quarter economic growth, which however got a boost from household spending and exports.

Advertisements
 
Leave a comment

Posted by on November 27, 2014 in Local News, Stock Market

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: