Monday, March 1, 2021

Q3 Philippine economic contraction adjusted to -11.4%


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State statisticians on Wednesday revised upward the third quarter gross domestic production (GDP) contraction to -11.4 percent from the earlier -11.5 percent.

“Major contributors to the revision were Real Estate and Ownership of Dwellings, from -22.5 percent to -19.4 percent; Education, from -21.4 percent to -17.8 percent; and Other Services, from -53.4 percent to -49.9 percent,” the Philippine Statistics Authority (PSA) said in a report.

Net Primary Income (NPI) from the rest of the world recorded downward revision from -28.2 percent to -29 percent, while growth of the Gross National Income (GNI) stayed at -13 percent.

Revisions to GDP figures, the PSA said, follow approved policy that is consistent with international standard practices.



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