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1st Quarter 2006
Gross National Product & Gross Domestic Product

Sources of Revision
as of May 2006

Expenditure Accounts

Q1 to Q4

Growth Rates

As of Jan. 2006 As of May 2006 Change Reasons for revisions
2003-2004 2004-2005 2003-2004 2004-2005 2003-2004 2004- 2005
1. Personal Consumption Expenditure
Current              
Q1
9.6 13.3 9.6 13.3 0.0 0.0  
Q2
11.0 13.3 11.0 13.4 0.0 0.0  
Q3
12.7 12.3 12.7 12.5 0.0 0.2  
Q4
14.0 12.5 14.0 12.3 0.0 (0.2)  
Constant              
Q1
5.7 5.0 5.7 5.0 0.0 0.0 Due to revisions on residential water consumption data.
Q2
6.3 4.8 6.3 4.8 0.0 0.0 Due to revisions on residential water consumption data & transportation, communication data.
Q3
5.5 4.8 5.5 4.9 0.0 0.2 Due to revisions on relevant production & foreign trade, residential water consumption data.
Q4
5.7 5.2 5.7 5.0 0.0 (0.2) Due to new inventory data on production & foreign trade.
2. Government Consumption Expenditure
Current              
Q1 6.6 6.9 6.2 9.6 (0.4) 2.7 Due to the availability of 2004 COA data
Q2 3.4 16.6 3.3 12.5 (0.1) (4.1)
Q3 (1.2) 1.1 1.6 2.4 2.8 1.3
Q4 6.0 (0.2) 1.7 3.2 (4.2) 3.4
Constant              
Q1 4.1 0.6 5.6 2.2 1.5 1.6 Due to the availability of 2004 COA data
Q2 (1.2) 15.7 0.8 12.4 2.0 (3.2)
Q3 (7.2) (2.0) (1.9) (0.2) 5.3 1.8
Q4 5.6 (4.2) 1.6 1.1 (4.0) 5.3
3. Capital Formation
Current              
Q1 10.6 (2.3) 8.7 (4.5) (2.0) 19.8  
Q2 7.7 2.2 8.5 3.7 0.9 1.5  
Q3 25.1 2.3 16.1 2.7 (9.0) 0.4  
Q4 19.8 7.3 16.3 0.4 (3.5) (6.9)  
Constant              
Q1 7.7 (7.4) 5.9 (8.9) (1.8) (1.4)  
Q2 3.6 (5.4) 4.6 (4.1) 1.0 1.3  
Q3 10.4 (1.3) 3.7 (0.8) (6.7) 0.5  
Q4 16.5 (2.8) 13.9 (9.1) (2.6) (6.3)  
A. Fixed Capital
Current              
Q1 8.9 2.0 7.9 (3.1) (1.0) (5.1)  
Q2 12.4 3.4 11.7 4.9 (0.7) 1.5  
Q3 12.9 5.0 4.3 7.0 (8.6) 1.9  
Q4 11.7 6.5 7.2 3.1 (4.5) (3.4)  
Constant              
Q1 5.0 (4.4) 4.2 (8.1) (0.8) (3.7)  
Q2 3.9 (3.9) 3.3 (2.5) (0.6) 1.4  
Q3 3.6 (2.1) (3.4) (0.0) (7.0) 2.1  
Q4 4.3 (1.4) 0.8 (4.6) (3.5) (3.2)  
1. Construction
Current              
Q1 8.2 11.4 6.7 4.7 (1.4) (6.7) For 2004:
Q2 17.6 7.9 16.6 9.3 (1.0) 1.4 a. Availability of updated BOT data from BOT center.
Q3 13.1 6.4 4.1 11.1 (9.0) 4.8 b. Availabity of actual DBM data for National Government, updated WPI from NSO
Q4 15.8 11.9 11.4 (1.5) (4.5) (13.4) For 2005:
c. Availability of adjusted DBM data for National government.
Constant              
Q1 (0.4) 3.3 (1.8) (2.9) (1.4) (6.3) Updated Wholesale Price Index for Construction Materials
Q2 5.8 0.9 4.7 2.1 (1.0) 1.2  
Q3 2.8 (0.1) (5.8) 4.5 (8.6) 4.6  
Q4 3.3 4.9 (0.9) (7.6) (4.2) (12.6)  
2. Durable Equipment
current              
Q1 9.3 (7.3) 8.9 (11.2) (0.4) (3.9) Revisions in 2004 and 2005 - Imports data (For Q1 2004 to Q4 2005)
Q2 6.7 (2.0) 6.3 0.1 (0.4) 2.0 Revisions in 2005 Exports data ( For Q1 2005 to Q4 2005)
Q3 11.5 3.4 2.9 4.3 (8.6) 0.8  
Q4 5.4 1.3 0.0 8.4 (5.4) 7.1 Correction in Road vehicles estimate ( For Q3 2003, Q3 2004 to Q4 2005)
              Revisions in Manufacturing Sector estimates (For Q4 2005)
constant              
Q1 8.9 (9.7) 8.5 (12.3) (0.4) (2.6)  
Q2 3.1 (9.2) 2.7 (7.6) (0.3) 1.5  
Q3 4.6 (4.5) (1.6) (4.1) (6.3) 0.4  
Q4 5.9 (7.8) 2.1 (2.9) (3.8) 4.8  
3. Breeding Stocks & Orchard Dev't
current              
Q1 10.5 10.3 8.0 5.9 (2.5) (4.4) Revision was due to the updated data of FMB & BAS from 2003 to 2005 quarterly.
Q2 17.3 7.2 15.9 5.3 (1.5) (1.9)  
Q3 21.6 6.7 16.8 (3.6) (4.8) (10.3)  
Q4 19.5 3.0 18.7 4.5 (0.8) 1.5  
constant              
Q1 2.3 0.3 2.3 (0.1) 0.0 (0.4)  
Q2 (1.3) 2.1 (1.9) 2.5 (0.6) 0.4  
Q3 0.9 2.6 0.4 (0.4) (0.6) (3.0)  
Q4 1.2 2.0 2.4 1.1 1.1 (0.9)  
B. Change in Stocks
current              
Q1 16589 8336 14705 11498 (1884) 3163  
Q2 (9324) (12055) (6476) (9347) 2848 2708  
Q3 (3976) (9347) (2134) (10128) 1841 (781)  
Q4 24198 27558 25821 20501 1623 (7057)  
constant              
Q1 5050 2890 4430 3572 (620) 682 Revisions for 2004 and 2005 are due to the availability of actual data from 2004 COA Annual Financial Report, and revised data from NSO (MISSI , QSPBI), BAS, NFA, DOE & DOF (FS of GOCCS)
Q2 (3045) (3751) (2116) (2958) 929 793  
Q3 (1544) (1107) (960) (1359) 584 (251)  
Q4 8031 7017 8536 5273 505 (1744)  
4. Exports
current              
Q1 10.9 5.8 11.9 4.5 1.0 (1.3)  
Q2 20.2 3.1 20.5 2.9 0.3 (0.2)  
Q3 13.5 3.6 13.9 5.9 0.4 2.2  
Q4 15.1 (2.7) 15.3 2.0 0.3 4.7  
constant              
Q1 11.6 3.4 12.9 1.4 1.3 (2.0)  
Q2 16.1 1.9 16.6 1.6 0.5 (0.3)  
Q3 17.1 3.5 17.0 6.7 (0.2) 3.3  
Q4 11.2 0.4 10.8 6.3 (0.5) 5.9  
A. Total Mdse Exports
current              
Q1 8.7 4.7 8.7 5.1 0.0 0.5  
Q2 17.7 2.3 17.7 2.4 0.0 0.1  
Q3 13.4 2.6 13.4 4.3 0.0 1.7  
Q4 14.8 (4.5) 14.8 (0.2) 0.0 4.2  
constant              
Q1 9.2 3.1 9.2 3.1 0.0 0.0 Due to revised NSO data
Q2 13.1 1.8 13.1 1.9 0.0 0.1  
Q3 17.7 3.2 17.7 6.0 0.0 2.8  
Q4 10.5 (0.5) 10.5 5.1 0.0 5.6  
B. Non-Factor Services
current              
Q1 32.0 14.5 40.8 0.2 8.8 (14.3) Due to updated BOP data
Q2 45.1 9.8 46.2 6.7 1.1 (3.1) Increased BPO undercoverage & correction of government services
Q3 14.4 13.3 18.1 19.2 3.7 5.9  
Q4 17.8 13.2 20.1 20.3 2.3 7.1  
constant              
Q1 28.2 5.2 36.9 (7.3) 8.7 (12.5)  
Q2 38.4 2.2 41.2 0.2 2.8 (2.1)  
Q3 12.8 5.6 11.9 12.0 (0.9) 6.4  
Q4 15.6 6.1 12.1 12.9 (3.5) 6.7  
5. Imports
current              
Q1 8.0 (3.2) 9.7 (1.7) 1.6 1.5  
Q2 12.0 6.4 13.8 7.3 1.8 0.9  
Q3 10.5 12.1 13.1 9.7 2.6 (2.4)  
Q4 6.0 4.4 7.2 8.1 1.2 3.7  
constant              
Q1 4.5 (3.5) 3.5 (2.2) (0.9) 1.3  
Q2 6.8 1.7 6.8 2.6 (0.1) 0.9  
Q3 6.6 7.7 6.7 7.5 0.1 (0.2)  
Q4 5.8 1.2 6.0 1.4 0.2 0.3  
A. Total Mdse Imports
current              
Q1 8.6 (3.8) 11.1 (2.8) 2.5 1.0  
Q2 11.4 6.6 14.1 6.9 2.7 0.3  
Q3 10.0 12.9 13.5 10.2 3.4 (2.7)  
Q4 6.9 4.1 8.0 8.1 1.1 4.0  
constant              
Q1 4.6 (4.0) 4.3 (3.2) (0.3) 0.8  
Q2 6.4 1.5 7.0 2.0 0.5 0.5  
Q3 6.1 8.3 6.7 8.0 0.6 (0.3) Due to revised FTS (NSO) data.
Q4 6.5 1.0 6.6 1.3 0.1 0.3  
B. Non-Factor Services
current              
Q1 0.2 5.2 (10.8) 17.0 (10.9) 11.9  
Q2 21.8 3.5 8.3 14.4 (13.5) 10.8  
Q3 17.5 0.4 7.1 0.7 (10.4) 0.3 Due to updated/revised BOP data for 2003, 2004 & 2005 from BSP.
Q4 (4.2) 7.7 (3.2) 7.8 1.0 0.1  
constant              
Q1 2.0 6.0 (9.2) 18.0 (11.1) 12.0  
Q2 15.5 4.9 2.7 15.9 (12.8) 11.0  
Q3 16.0 (3.0) 5.8 (2.7) (10.2) 0.3  
Q4 (4.2) 3.8 (3.2) 3.8 1.0 0.0  
6. NFIA
current              
Q1 10.7 15.9 23.7 21.6 13.0 5.8 Updated data of BOP & POEA.
Q2 24.4 10.2 20.4 17.6 (4.0) 7.4  
Q3 5.5 35.9 17.1 11.8 11.6 (24.1)  
Q4 16.2 27.7 17.5 35.2 1.2 7.5  
constant              
Q1 7.0 7.6 19.7 12.9 12.7 5.3  
Q2 18.7 2.3 15.0 9.4 (3.7) 7.1  
Q3 (0.9) 27.5 10.0 4.9 11.0 (22.6)  
Q4 8.7 20.0 10.2 26.9 1.5 6.9  

 

Production Accounts

Q1 to Q4

Growth Rates

As of Jan. 2006 As of May 2006 Change Reasons for revisions
2003-2004 2004-2005 2003-2004 2004-2005 2003-2004 2004- 2005
1. Agriculture, Fishery, Forestry
current              
Q1 13.3 7.5 13.6 6.3 0.3 (1.2) Revised data on volume of production and farm prices from Bureau of Agricultural Statistics (BAS) , Sugar Regulatory Administration (SRA) and Forest Management Bureau (FMB).
Q2 17.5 5.2 18.1 5.8 0.6 0.6  
Q3 23.7 2.6 22.0 2.6 (1.7) 0.0  
Q4 12.6 7.4 12.2 8.6 (0.4) 1.2  
constant              
Q1 8.0 (0.1) 8.1 (0.5) 0.1 (0.3)  
Q2 4.2 1.9 5.3 2.1 1.1 0.2  
Q3 7.3 1.9 7.1 1.7 (0.2) (0.2)  
Q4 1.2 4.0 1.7 3.7 0.5 (0.3)  
2. Industry              
current              
Q1 8.7 11.4 8.5 10.5 (0.2) (0.9)  
Q2 10.8 14.7 10.6 14.9 (0.1) 0.2  
Q3 12.5 15.0 11.1 15.7 (1.4) 0.7  
Q4 15.5 14.8 14.8 13.6 (0.6) (1.2)  
constant              
Q1 4.7 4.2 4.5 3.4 (0.2) (0.8)  
Q2 5.3 5.6 5.2 5.8 (0.1) 0.2  
Q3 3.6 4.7 2.4 5.3 (1.1) 0.6  
Q4 7.2 6.5 6.6 4.9 (0.6) (1.6)  
a. Mining and Quarrying
current              
Q1 21.7 10.7 21.7 10.7 0.0 0.0  
Q2 9.7 43.2 9.7 41.6 0.0 (1.6) Updated Production Report
Q3 38.9 11.4 38.9 10.9 0.0 (0.5)  
Q4 14.7 23.4 14.7 22.5 0.0 (0.9) Updated Production Report; Availability of 90 day QSPBI
constant              
Q1 21.7 (3.8) 21.7 (4.2) 0.0 (0.4)  
Q2 2.7 14.1 2.7 13.6 0.0 (0.4) Updated Production Report
Q3 (14.9) 3.5 (14.9) 3.1 0.0 (0.5)  
Q4 1.5 24.8 1.5 26.5 0.0 1.6 Updated Production Report; Availability of 90 day QSPBI
b. Manufacturing
current              
Q1 8.1 8.8 8.1 8.8 0.0 0.0 Availability of revised and complete data from MISSI of National Statistics Office (NSO)
Q2 10.1 12.3 10.1 12.3 0.0 0.0 Updated data on Wholesale Price Index (WPI) from NSO.
Q3 11.0 15.3 11.0 15.3 0.0 0.0  
Q4 14.3 14.5 14.3 15.4 0.0 0.9  
constant              
Q1 3.9 4.9 3.9 4.9 0.0 0.0  
Q2 4.8 5.8 4.8 5.8 0.0 0.0  
Q3 4.2 5.7 4.2 5.7 0.0 0.0  
Q4 7.4 5.8 7.4 5.9 0.0 0.1  
c. Construction
current              
Q1 7.9 11.5 6.4 4.3 (1.5) (7.1) For 2004:
Q2 17.7 7.7 16.6 9.2 (1.1) 1.5 a. Availability of updated BOT data from BOT center.
Q3 13.2 6.2 3.5 11.3 (9.7) 5.1 b. Availability of actual DBM data for National Government, updated WPI from NSO
Q4 15.8 12.4 11.1 (1.6) (4.8) (14.1) For 2005:
              c. Availability of adjusted DBM data for National government.
constant              
Q1 1.7 5.9 0.3 (0.9) (1.4) (6.8) Updated Wholesale Price Index for Construction Materials
Q2 10.6 3.1 9.6 4.5 (1.0) 1.4  
Q3 7.0 1.1 (2.1) 6.0 (9.1) 4.9  
Q4 9.2 7.3 4.7 (6.5) (4.5) (13.9)  
d. Electricity, Gas, Water
current              
Q1 9.4 29.3 9.4 29.3 0.0 0.0 Revised MWSI data for Q1 to Q4 of 2005
Q2 6.4 32.2 6.4 32.5 0.0 0.3  
Q3 14.2 27.0 14.2 26.8 0.0 (0.2)  
Q4 25.8 17.3 25.8 16.7 0.0 (0.6)  
constant              
Q1 5.1 2.1 5.1 2.0 0.0 (0.1) Availability of Q4 (90 days) 2005, QSPBI for Q4 of 2005
Q2 3.2 3.2 3.2 3.2 0.0 0.0  
Q3 3.7 1.8 3.7 1.8 0.0 0.0  
Q4 5.2 2.8 5.2 2.8 0.0 0.0  
3. Services
current              
Q1 10.4 12.6 11.2 12.8 0.7 0.2  
Q2 12.5 11.9 13.3 12.3 0.8 0.4  
Q3 12.6 10.3 13.2 10.8 0.7 0.5  
Q4 10.9 11.4 11.6 11.3 0.7 0.0  
constant              
Q1 6.6 7.1 7.2 7.0 0.5 0.0  
Q2 8.1 6.1 8.7 6.4 0.6 0.3  
Q3 7.8 5.4 8.3 5.6 0.5 0.3  
Q4 5.9 6.7 6.5 6.4 0.6 (0.3)  
a. Transport., Comm., Storage
current              
Q1 13.2 15.3 13.2 15.2 0.0 (0.2)  
Q2 22.7 13.8 23.3 13.6 0.6 (0.2) Updated CAP data (SEAAIR)
Q3 17.8 9.5 17.8 9.3 (0.0) (0.2)  
Q4 14.8 11.2 14.8 12.1 0.0 0.8 Updated QSPBI for Q4 2005 from NSO; Availability of corporate financial statements.
constant              
Q1 9.2 10.7 9.2 10.7 0.0 0.0  
Q2 14.6 7.2 14.8 7.0 0.2 (0.2)  
Q3 11.4 4.2 11.3 4.0 (0.0) (0.2)  
Q4 9.6 6.6 9.6 7.3 0.0 0.7  
b. Trade
current              
Q1 11.9 14.1 11.9 14.1 0.0 0.0 Updated QSPBI for Q4 2005 from NSO.
Q2 12.1 14.7 12.1 14.7 0.0 0.0  
Q3 14.6 13.1 14.6 13.1 0.0 0.0  
Q4 13.5 14.1 13.5 13.9 0.0 (0.2)  
constant              
Q1 7.1 5.7 7.1 5.6 0.0 0.0 Revision of General Retail Price Index & General Wholesale Price Index for 2005
Q2 6.7 5.9 6.7 5.9 0.0 0.0  
Q3 7.8 5.1 7.8 5.0 0.0 (0.1)  
Q4 5.8 6.2 5.8 5.9 0.0 (0.3)  
c. Finance
current              
Q1 10.6 21.7 12.1 22.0 1.4 0.3 Updated QSPBI for Q4 2005 from NSO.
Q2 14.7 21.0 16.1 20.8 1.4 (0.2) Updated Financial Statements of Banks & Non-Banks .
Q3 15.9 27.7 17.5 27.4 1.5 (0.3) Availability of updated data from Annual Report of Insurance Commission 2001-2004
Q4 16.2 26.5 17.9 19.2 1.7 (7.3)  
constant              
Q1 7.0 12.3 8.4 12.5 1.4 0.2  
Q2 9.6 11.9 11.0 11.7 1.4 (0.2)  
Q3 9.0 19.3 10.4 19.0 1.4 (0.3)  
Q4 8.0 18.4 9.6 11.5 1.6 (6.8)  
d. O. Dwellings & R. Estate
current              
Q1 6.8 10.5 6.8 10.5 0.0 0.0  
Q2 9.0 8.7 9.0 8.7 0.0 0.0  
Q3 9.3 8.9 9.3 8.9 0.0 0.0  
Q4 7.7 9.6 7.7 10.7 0.0 1.1 Availability of Q4 QSPBI.
constant              
Q1 4.0 6.6 4.0 6.6 0.0 0.0  
Q2 6.4 3.9 6.4 3.9 0.0 0.0  
Q3 6.9 4.0 6.9 4.0 0.0 0.0  
Q4 3.9 5.5 3.9 6.9 0.0 1.5 Revised Current Estimates
e. Private Services
current              
Q1 12.1 9.8 16.3 9.9 4.2 0.2 - Quarterly benchmark estimates of Call Centers and
Q2 12.1 11.1 16.5 13.1 4.4 1.9 other BPO were added starting 2003
Q3 12.7 8.3 16.5 10.1 3.8 1.8 - Availability of the Q4 2006 QSPBI 90 days
Q4 12.7 9.9 17.5 11.2 4.8 1.2  
constant              
Q1 6.5 4.6 9.8