PSA keeps Phl Q2 GDP growth at 5.5%

The Philippine Statistics Authority (PSA) on Thursday said it kept the country’s gross domestic product (GDP) growth rate at 5.5% for the second quarter.

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In a report, the PSA said the growth in gross national income — the sum of the nation’s GDP and net primary income from the rest of the world — for the second quarter was revised downward to 8% from the 8.2% initially reported.

The growth in net primary income from the rest of the world for the second quarter was also lowered to 30.3% from 32.8%.

The local statistics authority said there were downward revisions in some components of the national accounts, mainly on the supply side.