PSA adjusts Q1 growth downward

THE country's gross domestic product (GDP) growth for the first quarter of 2022 has been revised downward to 8.2 percent from the earlier 8.3 percent, the Philippine Statistics Authority (PSA) said on Monday.

"The major contributors to the downward revision were: real estate and ownership of dwellings, from 7.9 percent to 5.9 percent; manufacturing, from 10.1 percent to 9.8 percent; and wholesale and retail trade; repair of motor vehicles and motorcycles, from 7.3 percent to 7.0 percent," National Statistician Dennis Mapa said in a report.