Economic growth in 2016 revised higher to 6.9 pct


Posted at Apr 06 2017 12:14 PM

Economic growth in 2016 revised higher to 6.9 pct 1

MANILA - The economy grew 6.9 percent last year, the statistics agency said on Thursday, confirming the quickest pace of growth in three years and a touch faster than the previously announced 6.8 percent.

The revision followed changes to data from sectors including
construction, mining and quarrying, it said in a statement.

Growth in the fourth quarter of 2016 remained unchanged at
6.6 percent.

Economic Planning Secretary Ernesto Pernia told Reuters on
March 23 he was expecting the economy to expand between 6.5 and 7 percent in the first quarter this year or even faster,
putting the government on track to meet its full-year target.

Pernia tipped full-year growth around the midpoint of the government's 6.5 to 7.5 percent goal.

The government is scheduled to release the first-quarter GDP data on May 18.