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Philippines Q3 GDP growth remains unchanged


The Philippine Statistics Authority (PSA) has revised the annual growth figures for nearly all industries for the third quarter of 2022. Out of the three major sectors, the PSA only revised the services sector growth. Services grew by 9.2% in Q3, from the 9.1% previously reported by the PSA. The PSA said it revised all industry growth figures for Q3, except for the services subsector of public administration and defence; and compulsory social activities, which maintained annual growth of 0.7% in the quarter. Industries that expanded faster than previously reported were real estate and ownership dwellings (3.6% from 3.1% previously), financial and insurance activities (7.9% from 7.7%), education (5.7% from 5.2%), transportation and storage (24.6% from 24.3%), accommodation and food service activities (41.6% from 40.6%), and other services (39% from 38.3%).

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