The Philippine Statistics Authority raised its estimate of second-quarter economic growth to 2.4% on Friday, November 6, from the preliminary reading of 2.3%.
The revised figure measures gross domestic product against the same quarter a year earlier. It changes the estimate for an already completed period rather than reporting third-quarter performance.
Three sectors were the main contributors to the upward revision. Growth in wholesale and retail trade, including motor-vehicle and motorcycle repair, was revised from 4.6% to 4.7%. Agriculture, forestry and fishing growth increased from 2.7% to 2.9%, while transportation and storage growth rose from 3.8% to 4.1%.
The revision did not change every headline measure. Second-quarter gross national income growth remained at 2.2%. Growth in net primary income from the rest of the world was revised downward to 0.8%, from 1.0%.
The agency said its revisions follow an approved national-accounts policy consistent with international statistical practices.
Third-quarter growth figures are scheduled for release Monday, November 9. Those figures will provide a separate reading of the economy’s more recent performance.
Sources: - Philippine Statistics Authority: https://psa.gov.ph/content/gdp-growth-rate-second-quarter-2026-revises-upward-24-percent - Reuters: https://www.reuters.com/world/asia-pacific/philippines-q2-gdp-revised-upwards-24-2026-11-06/