NSCB - First Quarter 2007 National Accounts - Sources of Revision as of May 2007

Q1 to Q4 Growth Rates	As of Jan. 2007		As of May 2007		Change		Reasons for revisions
Q1 to Q4 Growth Rates	2004-2005	2005-2006	2004-2005	2005-2006	2004-2005	2005- 2006	Reasons for revisions
Production Accounts
1. Agriculture, Fishery, Forestry
current
Q1	6.3	13.1	6.4	13.0	0.1	(0.1)	More updated production data from BAS. Complete reports of all regions on log production from FMB. Adjustment in the weighted price of inspected crop, livestock & poultry.
Q2	5.8	12.3	6.5	11.9	0.7	(0.4)
Q3	2.6	11.7	3.1	11.0	0.5	(0.7)
Q4	8.6	3.9	8.4	4.8	(0.1)	0.9

constant
Q1	(0.5)	3.8	(0.4)	4.1	0.1	0.3
Q2	2.1	7.0	2.0	6.7	(0.1)	(0.3)
Q3	1.7	4.5	2.5	3.6	0.7	(0.9)
Q4	3.7	1.9	3.8	1.7	0.1	(0.2)

2. Industry
current
Q1	10.5	11.6	10.2	11.0	(0.3)	(0.6)
Q2	14.9	11.2	12.5	10.1	(2.4)	(1.1)
Q3	15.7	9.8	13.6	10.2	(2.1)	0.4
Q4	13.6	8.4	12.9	8.8	(0.7)	0.5

constant
Q1	3.4	5.7	3.1	5.3	(0.2)	(0.4)
Q2	5.8	5.6	3.1	4.4	(2.6)	(1.1)
Q3	5.3	4.8	3.5	4.9	(1.7)	0.2
Q4	4.9	3.3	4.5	3.6	(0.4)	0.3

a. Mining and Quarrying
current
Q1	10.7	18.8	10.7	18.9	0.0	0.0	Updated Production Report from the Mines & Geosciences Bureau (MGB) & Dept of Energy (DOE); Availability of 90 day QSPBI
Q2	41.6	33.1	41.6	33.1	0.0	0.0
Q3	10.9	18.8	10.9	18.8	0.0	0.0
Q4	22.5	4.6	22.5	4.1	0.0	(0.4)

constant
Q1	(4.2)	1.8	(4.2)	1.8	0.0	0.0
Q2	13.6	3.3	13.6	3.3	0.0	0.0
Q3	3.1	(5.1)	3.1	(5.1)	0.0	0.0
Q4	26.5	(24.7)	26.5	(25.1)	0.0	(0.5)

b. Manufacturing
current
Q1	8.8	12.0	9.2	10.2	0.4	(1.8)	Q1 2004 to Q3 2006, incorporated revenue data of Manufacturing establishments sourced from QSPB -MFG (NSO); Q4 2006, Revised and updated value of production from MISSI (NSO); Availability of December data on cement production from CeMAP; Incorporated Revenue data of Manufacturing establishments sourced from QSPBI-MFG (NSO)
Q2	12.3	10.4	11.0	8.6	(1.3)	(1.8)
Q3	15.3	9.8	14.3	9.2	(0.9)	(0.5)
Q4	15.4	8.4	15.1	9.0	(0.4)	0.5

constant
Q1	4.9	6.3	5.2	5.0	0.3	(1.3)
Q2	5.8	5.9	5.0	4.2	(0.8)	(1.7)
Q3	5.7	5.1	5.1	4.4	(0.7)	(0.7)
Q4	5.9	4.4	5.8	4.8	(0.0)	0.5

c. Construction
current
Q1	4.3	8.9	(0.1)	15.8	(4.4)	6.9	Based on the updated data in Building Permits from NSO & BESF -DBM for National Government
Q2	9.2	10.0	(0.1)	8.7	(9.3)	(1.3)
Q3	11.3	7.7	0.8	12.7	(10.5)	5.1
Q4	(1.6)	8.3	(5.2)	11.3	(3.5)	3.0

constant
Q1	(0.9)	4.8	(5.1)	10.7	(4.2)	5.9
Q2	4.5	5.2	(8.8)	4.0	(13.3)	(1.2)
Q3	6.0	3.5	(4.0)	8.3	(10.0)	4.9
Q4	(6.5)	4.7	(9.9)	7.6	(3.4)	2.9

d. Electricity, Gas, Water
current
Q1	29.3	9.7	29.3	8.8	0.0	(0.9)	Q1 Revised growth rates of QSPBI for both electricity and water; Q2-Q3 Revised growth rates of QSPBI for electricity ; inclusion of imputation from First Gas; Availability of Q4 2006 NPC data and 90 days Q4 2006 QSPBI
Q2	32.5	10.4	32.5	12.8	0.0	2.4
Q3	26.8	9.4	26.8	10.9	0.0	1.5
Q4	16.7	9.3	16.7	6.5	0.0	(2.8)

constant
Q1	2.0	4.7	2.0	3.9	0.0	(0.8)
Q2	3.2	4.9	3.2	7.4	0.0	2.6
Q3	1.8	7.5	1.8	9.2	0.0	1.7
Q4	2.8	8.3	2.8	4.5	0.0	(3.8)

3. Services
current
Q1	12.8	12.3	13.1	13.0	0.3	0.7
Q2	12.3	10.4	13.5	10.9	1.2	0.6
Q3	10.8	11.3	11.9	11.1	1.1	(0.2)
Q4	11.3	11.6	12.4	12.4	1.1	0.8

constant
Q1	7.0	6.5	7.5	6.7	0.5	0.2
Q2	6.4	5.6	6.9	5.7	0.5	0.1
Q3	5.6	6.0	6.1	5.8	0.5	(0.2)
Q4	6.4	7.0	6.8	8.4	0.4	1.4

a. Transport., Comm., Storage
current
Q1	15.2	11.9	15.2	12.1	0.0	0.2	Updated QSPBI prices, updated MRT, PNR data, availability of financial Statement S(FS); Updates on prices
Q2	13.6	5.3	13.6	5.3	0.0	0.0
Q3	9.3	9.5	9.3	9.0	0.0	(0.5)
Q4	12.1	8.9	12.6	5.8	0.5	(3.1)

constant
Q1	10.7	6.7	10.7	6.9	0.0	0.1
Q2	7.0	5.3	7.0	5.4	0.0	0.0
Q3	4.0	6.7	4.0	6.1	0.0	(0.6)
Q4	7.3	8.0	7.8	7.0	0.4	(1.0)

b. Trade
current
Q1	14.1	13.6	14.1	13.6	0.0	0.0	Updated QSPBI and availability of Financial Statement s(FS).
Q2	14.7	12.5	14.7	12.5	0.0	0.0
Q3	13.1	12.1	13.1	12.1	0.0	0.0
Q4	13.9	11.4	13.9	13.5	0.0	2.1

constant
Q1	5.6	5.3	5.6	5.3	0.0	0.0	Availability of GRPI and GWPI
Q2	5.9	5.0	5.9	5.0	0.0	0.0
Q3	5.0	5.5	5.0	5.5	0.0	0.0
Q4	5.9	6.1	5.9	8.1	0.0	2.0

c. Finance
current
Q1	22.0	22.9	22.0	22.9	0.0	0.0	Availability of QSPBI , 90 days and Financial Statement.
Q2	20.8	17.6	20.8	17.6	0.0	0.0
Q3	27.4	11.9	27.4	11.9	0.0	0.0
Q4	19.2	13.5	19.2	21.2	0.0	7.7

constant
Q1	12.5	14.6	12.5	14.6	0.0	0.0
Q2	11.7	10.0	11.7	10.0	0.0	0.0
Q3	19.0	5.5	19.0	5.5	0.0	0.0
Q4	11.5	8.3	11.5	15.6	0.0	7.3

d. O. Dwellings & R. Estate
current
Q1	10.5	8.2	10.5	8.1	0.0	(0.1)	Updates on the residential building permits
Q2	8.7	9.4	8.8	9.3	0.0	(0.1)
Q3	8.9	11.0	8.8	11.0	(0.1)	0.0
Q4	10.7	9.5	10.6	9.4	(0.1)	(0.1)

constant
Q1	6.6	3.5	6.7	3.4	0.0	(0.1)	Availability of the Q4 2006 QSPBI 90 days
Q2	3.9	5.3	3.9	5.2	0.0	(0.1)
Q3	4.0	7.6	3.9	7.6	(0.1)	0.0
Q4	6.9	6.7	6.8	6.6	(0.1)	(0.1)

e. Private Services
current
Q1	9.9	12.4	12.1	13.0	2.2	0.6	Availabilty of Q4 2006 QSPBI 90-days; Availabilty of updated BPO data
Q2	13.1	10.0	16.0	10.4	3.0	0.5
Q3	10.1	12.1	12.7	11.1	2.6	(1.0)
Q4	11.2	13.4	13.4	12.6	2.3	(0.9)

constant
Q1	4.7	7.0	6.4	7.7	1.7	0.6
Q2	6.8	5.0	9.2	5.4	2.4	0.4
Q3	4.8	6.9	7.0	6.1	2.2	(0.8)
Q4	5.7	8.3	7.5	8.4	1.8	0.1

f. Government Services
current
Q1	10.3	7.1	8.3	10.8	(2.0)	3.7	Availability of benchmark levels from COA 2005; Annual Financial Report (AFR)
Q2	3.7	8.6	6.8	11.8	3.1	3.2
Q3	0.8	10.0	4.1	10.8	3.3	0.8
Q4	2.2	11.6	5.1	12.6	2.9	0.9

constant
Q1	3.7	3.1	5.8	3.7	2.1	(3.4)
Q2	2.7	4.0	3.9	4.9	1.2	(3.7)
Q3	(0.1)	3.4	0.8	4.2	0.9	(5.9)
Q4	1.2	5.2	1.3	6.1	0.1	(5.5)

GROSS DOMESTIC PRODUCT
current
Q1	11.1	12.2	11.1	12.4	0.1	0.2
Q2	12.3	10.9	12.3	10.8	(0.0)	(0.1)
Q3	11.1	10.9	11.1	10.8	0.0	(0.1)
Q4	11.6	9.3	11.9	10.0	0.3	0.7

constant
Q1	4.2	5.7	4.4	5.8	0.2	0.1
Q2	5.4	5.8	4.8	5.5	(0.7)	(0.4)
Q3	4.8	5.3	4.6	5.2	(0.2)	(0.1)
Q4	5.3	4.8	5.4	5.5	0.1	0.8

GROSS NATIONAL PRODUCT
current
Q1	11.8	13.1	11.7	13.1	(0.2)	0.0
Q2	12.7	11.9	12.5	11.8	(0.2)	(0.1)
Q3	11.2	11.4	11.1	11.3	(0.1)	(0.1)
Q4	13.1	10.4	13.1	10.6	(0.0)	0.2

constant
Q1	4.9	6.5	4.9	6.4	(0.0)	(0.1)
Q2	5.8	6.7	4.9	6.4	(0.8)	(0.3)
Q3	4.8	5.8	4.5	5.6	(0.3)	(0.1)
Q4	6.9	5.9	6.6	6.1	(0.3)	0.2


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