Economic growth in 3Q revised upwards to 7 pct

ABS-CBN News

Posted at Jan 19 2018 04:49 PM

MANILA - The government on Friday revised gross domestic product growth in the third quarter of last year higher to 7 percent, from the previously announced 6.9 percent.

Manufacturing and trade and repair of motor vehicles, motorcycles, personal and household goods along with mining and quarrying contributed to the revision, the Philippine Statistics Authority said in a statement.

Official GDP data for the fourth quarter and the full year of 2017 are due out next week.

The Philippine economy is growing at one of the fastest clips in Asia, challenging regional leader China.

Analysts expect the economy to benefit from infrastructure investments this year, as President Rodrigo Duterte builds P8 trillion in new roads, railways and airports.