Q2 GDP growth revised upward

The Philippine economy expanded at a slightly faster rate than initially reported in the second quarter, according to the Philippine Statistics Authority (PSA).

-  LOUElla DESIDERIO

In a statement yesterday, the PSA said the gross domestic product (GDP) growth in the second quarter was revised upward to 6.4 percent from the preliminary estimate of 6.3 percent.

The PSA cited manufacturing as a major contributor to the upward revision in GDP, with the sector's growth adjusted to 3.9 percent from 3.6 percent.

Accommodation and food service activities also contributed to the GDP's upward revision, with the sector's growth upgraded to 12.1 percent from 10.4 percent.

Another major contributor was real estate, with the sector's growth raised to 7.6 percent from 7.2 percent.