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Gov’t revises 2015 GDP growth upward to 5.9%

By: - Reporter / @bendeveraINQ
/ 08:11 PM May 18, 2016
Employees work on a construction site in Manila on Sept. 17, 2012. The International Monetary Fund has kept its 2012 growth projection for the Philippines, but reduced its figure for next year as it sees a weaker global economy. AFP/JAY DIRECTO

A consruction site in Manila. FILE PHOTO AFP/JAY DIRECTO

MANILA — The government on Wednesday revised upward the country’s 2015 gross domestic product (GDP) growth to 5.9 percent from 5.8 percent previously.

Assistant National Statistician Vivian R. Ilarina told the Philippine Daily Inquirer that the higher full-year figure was a result of the also revised and higher fourth-quarter growth of 6.5 percent from the 6.3 percent announced last January.

On its website, the Philippine Statistics Authority attributed the upward revision in the fourth-quarter GDP growth figure to higher than earlier reported output in the following sectors: electricity, gas and water supply; public administration and defense; transport, storage and communication, financial intermediation; trade; and mining and quarrying.  SFM

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