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First Quarter 2009
Gross National Product & Gross Domestic Product

Sources of Revision
as of May 2009

Revisions in annual 2006, 2007 and 2008 GDP/GNP estimates

Based on the Revision Policy approved by the NSCB Executive Board and consistent with the international practice on the revision of National Accounts, annual GDP growth estimates for the past three years were revised as follows: for 2006, from 5.4 to 5.3 percent; for 2007, from 7.2 to 7.1 percent; and for 2008, from 4.6 to 3.8 percent. For GNP, revisions were as follows: for 2006, from 5.5 to 5.4 percent; for 2007, from 8.0 to 7.5 percent; and for 2008, from 6.1 to 6.2 percent.

 

Expenditure Accounts

 
Q1  to Q4 Growth RatesExpenditure Accounts     As of Jan. 2009     As of May 2009 Change Reasons for revisions
2006-2007 2007-2008 2006-2007 2007-2008 2006-2007 2007-2008
1. Personal Consumption Expenditure
Current              
Q1 9.2 11.1 9.2 11.1 0.0 0.0 Availability of more updated data/information
Q2 8.3 14.2 8.3 14.2 0.0 0.0 on expenditure by item
Q3 8.4 17.3 8.4 17.3 0.0 0.0  
Q4 10.1 15.0 10.1 15.1 0.2 0.2  
               
Constant              
Q1 5.9 5.2 5.9 5.1 0.0 0.0  
Q2 5.6 4.1 5.6 4.1 0.0 0.0  
Q3 5.7 4.4 5.7 4.4 0.0 0.0  
Q4 6.2 4.5 6.2 5.0 0.0 0.5  
               
2. Government  Consumption Expenditure
Current              
Q1 9.3 4.8 10.8 4.4 1.5
(0.4)
 
Q2 12.1 4.6 13.5 6.4 1.5 1.7  
Q3 8.9 19.5 10.1 18.1 1.2 (1.4)  
Q4 8.0 13.2 8.7 10.0 0.7 (3.2) Availability of the 2007 Financial Report from the Commission on Audit (COA). Availability pf the 2008 Budget of Expenditures and Sources of Financing.
             
Constant            
Q1 9.5 1.9 12.1 (0.3) 2.6 (2.2)
Q2 11.9 (1.5) 8.9 0.0 (3.0) 1.6  
Q3 6.4 13.4 (2.6) 11.8 (9.0) (1.6)  
Q4 4.6 4.7 8.0 2.6 3.4 (2.1)  
               
3. Capital Formation
Current              
Q1 15.0 4.5 25.1 (1.6) 10.1 (6.1)  
Q2 21.9 20.2 21.5 18.9 (0.4) (1.3)  
Q3 10.9 24.4 8.1 26.9 (2.8) 2.6  
Q4 15.8 5.1 13.1 0.5 (2.7) (4.6)  
Constant              
Q1 8.7 4.0 18.1 (1.7) 9.4 (5.8)  
Q2 17.6 15.3 17.4 13.6 (0.2) (1.7)  
Q3 7.6 7.6 5.3 9.4 (2.3) 1.8  
Q4 11.0 (9.0) 8.8 (13.1) (2.2) (4.0)  
               
   A. Fixed Capital
Current              
Q1 16.6 4.2 25.1 (1.6) 8.5 (5.8)  
Q2 24.9 9.9 21.5 18.9 (3.4) 9.0  
Q3 12.8 21.2 8.1 26.9 (4.7) 5.7  
Q4 11.3 15.6 13.1 0.5 1.8 (15.2)  
Constant              
Q1 10.3 2.9 10.2 3.0 (0.1) 0.1  
Q2 20.9 3.0 20.7 1.7 (0.2) (1.3)  
Q3 8.8 7.0 6.8 7.1 (2.0) 0.1  
Q4 6.7 1.9 5.3 0.1 (1.4) (1.8)  
               
     1. Construction
Current              
Q1 25.7 1.2 25.6 0.2 (0.2)
(1.0)
Based on the updated data in building permits from NSO & BESF and DBM for National Government; Updated
Q2 40.6 12.5 40.4 10.9 (0.2) (1.6)
Q3 21.1 29.6 16.6 30.1 (4.5) 0.5
Q4 16.6 21.7 13.2 23.1 (3.4) 1.4
             
Constant            
Q1 20.4 (3.1) 20.1 (4.1) (0.2) (1.0)
Q2 34.4 3.4 34.2 1.0 (0.2) (2.4)
Q3 16.8 14.0 12.5 14.3 (4.4) 0.3
Q4 11.7 11.6 8.5 8.2 (3.2) (3.4)
               
     2. Durable Equipment
current              
Q1 8.2 8.2 8.2 8.1 0.0
(0.1)
 Due to 2008 Revision of Imports data and Exports data and revision in Manufacturing for Q4 2008.
Q2 8.6 3.1 8.6 3.1 0.0 (0.1)
Q3 4.5 6.3 4.5 6.5 0.0 0.2
Q4 5.3 1.2 5.3 (8.5) 0.0 (9.6)
             
  constant            
Q1 4.3 8.6 4.3 9.6 0.0 1.0
Q2 8.8 3.8 8.8 3.7 0.0 (0.1)
Q3 2.3 0.9 2.3 1.0 0.0 0.2
Q4 2.6 (7.4) 2.6 (7.9) 0.0 (0.5)
               
     3. Breeding Stocks & Orchard Dev't
current             Updated production data from the Bureau of Agricultural Statistics (BAS) and Forest Management Bureau (FMB).
Q1 7.3 3.2 7.4 3.0 0.1 (0.2)
Q2 9.0 23.6 7.4 22.2 (1.5) (1.4)
Q3 6.8 46.7 5.2 46.7 (1.6) 0.0
Q4 10.7 39.3 10.2 41.4 (0.4) 2.1
             
  constant            
Q1 2.0 (2.0) 2.2 (2.3) 0.2 (0.3)
Q2 7.1 (5.0) 5.4 (5.1) (1.7) (0.1)
Q3 3.6 (0.9) 2.1 (0.4) (1.6) 0.5
Q4 5.1 1.0 4.7 1.2 (0.4) 0.2
               
     B. Change in  Stocks 
current              
Q1      10,066       11,271        30,950        18,795         20,884          7,524 Availability of 2008 COA Annual Financial Report
Q2     (17,111)          8,421       (17,304)          7,654             (193)            (767)  
Q3        2,640       10,572          1,424        14,402          (1,216)          3,830 QSPBI 90 Days & revised MISSI for 2008.
Q4      32,847          8,673        30,137              911          (2,711)        (7,762)  
              Updated data from BAS, SRA & DOE.
  constant              
Q1        1,507          2,245          6,900          3,940           5,393          1,695  
Q2       (4,484)          3,122         (4,451)          2,936                 33            (185)  
Q3           822          1,238              645          1,995             (178)             757  
Q4        8,385          1,293          7,818         (3,424)             (568)        (4,717)  
               
4. Exports
current              
Q1 7.0 (6.3) 6.7 (8.1) (0.2) (1.8)  
Q2 (3.4) 2.3 (4.1) 0.2 (0.7) (2.1)  
Q3 (2.9) 6.0 (3.4) 4.8 (0.5) (1.2)  
Q4 (2.5) (0.5) (2.0) (9.9) 0.5 (9.5)  
               
  constant              
Q1 10.8 (6.1) 10.5 (7.7) (0.2) (1.6)  
Q2 4.9 7.6 4.2 6.1 (0.7) (1.5)  
Q3 3.7 4.1 3.3 3.3 (0.4) (0.8)  
Q4 3.9 (7.5) 4.5 (11.5) 0.6 (4.0)  
               
   A. Total Mdse Exports
current              
Q1 3.3 (12.6) 3.3 (12.6)
0.0
0.0 Updated  2008 Exports data 
Q2 (5.9) (3.6) (5.9) (3.5) 0.0 0.1  
Q3 (8.9) 4.7 (8.9) 4.7 0.0 0.0 Updated deflator.
Q4 (5.5) (2.4) (5.5) (9.4) 0.0 (6.9)  
               
  constant              
Q1 8.2 (11.0) 8.2 (10.9) 0.0 0.2  
Q2 6.3 5.6 6.3 5.9 0.0 0.3  
Q3 (0.2) 4.8 (0.2) 4.8 0.0 0.0  
Q4 2.7 (9.2) 2.7 (9.4) 0.0 (0.2)  
               
   B. Non-Factor Services
current              
Q1 27.2 22.0 25.6 12.3 (1.5)
(9.7)
Availability of the revised BOP data for 2007 & 2008.
Q2 9.9 28.6 5.7 17.3 (4.2) (11.3)  
Q3 33.3 11.5 29.8 5.5 (3.5) (6.0)  
Q4 11.9 7.5 15.0 (12.1) 3.1 (19.6)  
               
  constant              
Q1 23.1 14.8 21.7 5.9 (1.5) (8.9)  
Q2 (1.4) 17.1 (5.1) 7.3 (3.7) (9.7)  
Q3 29.0 0.7 25.6 (4.3) (3.3) (4.9)  
Q4 8.7 (1.0) 11.7 (19.4) 2.9 (18.4)  
               
5. Imports
current              
Q1 1.0 2.3 1.0 3.2 0.0 0.9  
Q2 (9.4) 5.2 (9.1) 5.7 0.2 0.6  
Q3 (2.0) 9.4 (1.6) 10.7 0.4 1.3  
Q4 (1.7) (8.7) (1.1) (10.6) 0.6 (1.9)  
               
  constant              
Q1 (1.8) (5.8) (1.8) (2.6) 0.0 3.2  
Q2 (10.5) (0.7) (10.2) (0.0) 0.2 0.6  
Q3 (5.0) 2.9 (4.7) 6.7 0.4 3.9  
Q4 0.2 (1.2) 0.9 5.0 0.7 6.2  
               
   A. Total Mdse Imports
current              
Q1 0.5 3.1 0.5 4.3 0.0 1.3  
Q2 (10.0) 4.3 (10.0) 5.6 0.0 1.2  
Q3 (2.7) 8.1 (2.7) 9.6 0.0 1.4  
Q4 (1.6) (10.2) (1.6) (13.0) 0.0 (2.8)  
               
  constant             Updated FTS data and updated deflator.
Q1 (3.0) (7.3) (3.0) (3.4) 0.0 3.9  
Q2 (11.6) (2.7) (11.6) (1.3) 0.0 1.3  
Q3 (6.4) 1.1 (6.4) 5.3 0.0 4.2  
Q4 (0.8) (0.5) (0.8) 5.8 0.0 6.2  
               
   B. Non-Factor Services
current              
Q1 7.8 (6.0) 7.8 (9.8) 0.0 (3.8) Availability of updated BOP data for 2006 and 2007
Q2 1.4 18.3 6.0 8.2 4.6 (10.1)  
Q3 10.7 30.6 18.6 28.6 7.9 (2.0)  
Q4 (2.1) 10.6 6.3 18.3 8.4 7.7  
               
  constant              
Q1 14.5 12.3 14.5 7.7 0.0 (4.6)  
Q2 12.0 30.3 17.1 19.2 5.1 (11.1)  
Q3 22.0 30.2 30.8 28.2 8.8 (2.0)  
Q4 12.9 (9.9) 22.6 (3.6) 9.7 6.3  
               
6. NFIA
current              
Q1 14.9 23.7 4.6 42.5 (10.3) 18.8 Updated data on employment from POEA and updated BOP data from BSP.
Q2 28.4 24.6 23.4 25.9 (4.9) 1.3  
Q3 35.5 37.3 33.9 37.3 (1.6) 0.0  
Q4 4.3 41.2 3.4 65.9 (0.9) 24.7  
               
  constant              
Q1 11.3 18.3 1.4 36.2 (9.9) 18.0  
Q2 25.3 14.7 20.1 15.8 (5.2) 1.0  
Q3 31.9 22.6 29.5 22.6 (2.5) 0.0  
Q4 0.6 27.9 (0.2) 51.2 (0.8) 23.2  
               

 

Production Accounts
Q1  to Q4                              Growth RatesProduction Accounts     As of Jan. 2009     As of May 2009 Change Reasons  for revisions
2006-2007 2007-2008 2006-2007 2007-2008 2006-2007 2007-2008
1. Agriculture, Fishery, Forestry
current              
Q1 4.0 15.4 3.9 15.6 0.0 0.2 More updated volume and average farmgate price from BAS. Complete report of all regions on log production from
Q2 6.5 30.4 6.1 30.4 (0.4) 0.0  
Q3 8.3 20.0 8.3 20.0 (0.1) 0.0  
Q4 17.9 10.0 20.5 7.3 2.6 (2.8)  
               
  constant              
Q1 4.0 2.7 4.0 2.8 0.0 0.1  
Q2 4.2 5.0 3.8 4.9 (0.4) 0.0  
Q3 5.7 2.5 5.6 2.5 (0.1) 0.0  
Q4 5.7 2.8 5.7 2.9 0.0 0.1  
               
2. Industry
current              
Q1 11.6 5.7 11.4 5.5 (0.2) (0.2)  
Q2 14.8 12.2 15.2 11.5 0.3 (0.7)  
Q3 7.7 18.0 6.8 18.2 (0.9) 0.2  
Q4 7.2 13.7 7.0 12.3 (0.3) (1.4)  
               
  constant              
Q1 6.6 3.0 6.3 2.7 (0.3) (0.2)  
Q2 10.3 4.5 10.6 4.0 0.3 (0.4)  
Q3 6.6 7.4 5.7 7.6 (0.9) 0.2  
Q4 4.9 5.0 4.7 5.3 (0.2) 0.3  
               
   a. Mining and Quarrying
current              
Q1 48.2 1.3 48.2 1.7 0.0 0.4  
Q2 86.3 (12.5) 86.3 (13.9)
0.0
(1.3)   Updated Production Report from the Mines & Geosciences Bureau (MGB) & Dept of Energy (DOE)
Q3 18.5 13.5 18.5 20.2 0.0 6.7  
Q4 12.9 11.7 13.6 15.4 0.7 3.6     Availability of 90 days QSPBI
               
  constant              
Q1 14.7 14.1 14.7 12.3
0.0
(1.8)  
Q2 38.9 (12.4) 38.9 (13.7) 0.0 (1.3)  
Q3 24.0 (4.3) 24.0 0.7 0.0 5.1  
Q4 21.5 12.1 22.4 18.2 0.9 6.1  
               
   b. Manufacturing
current              
Q1 7.6 7.3 7.3 7.2 (0.3) (0.1)  
Q2 5.3 16.7 5.7 16.5 0.4 (0.2) Sources of revisions for Q1 2006 to Q2 2008 were due to revisions in petroleum combining the QSPBI data with the DOE data.
Q3 5.0 18.9 4.5 18.6 (0.5) (0.2) For Q3 2008, revision was due to updated DOE data for petroleum production.
Q4 6.1 13.7 6.2 11.9 0.1 (1.8) For Q4 2008, revisions were due to availability of Q4 2008 MISSI data, updated Q4 2008 QSPBI, updated Q4 2008 PPI for inflation.
               
  constant              
Q1 4.1 2.4 3.6 2.4 (0.4) 0.0  
Q2 3.4 6.3 3.8 6.1 0.5 (0.1)  
Q3 3.7 5.5 3.1 5.4 (0.6) (0.1)  
Q4 2.6 3.2 2.7 3.4 0.1 0.1  
               
   c. Construction
current              
Q1 25.7 0.9 25.5 (0.1) (0.2) (0.9) Based on the updated data in Building Permits from NSO
Q2 41.9 11.9 41.6 10.5 (0.2) (1.4) BESF -DBM for National Government
Q3 20.9 30.0 16.6 30.6 (4.3) 0.6  
Q4 16.8 21.4 13.5 22.8 (3.3) 1.4  
               
  constant             Updated deflators, WPI and Average Earnings Index.
Q1 21.7 (3.4) 21.5 (4.3) (0.2) (0.9)  
Q2 37.0 3.7 36.7 2.3 (0.2) (1.5)  
Q3 17.8 20.0 13.6 20.5 (4.2) 0.6  
Q4 13.4 13.1 10.2 14.5 (3.2) 1.4  
               
   d. Electricity, Gas, Water
current              
Q1 9.1 3.6 9.1 3.6 0.0 0.0  
Q2 8.1 5.1 8.3 3.9 0.2 (1.2)  
Q3 6.4 (0.5) 6.4 (0.5) 0.0 0.0  
Q4 3.4 4.0 3.4 0.7 0.0 (3.3)  
              Availability of Q2 2008 MWCI data.
  constant             Availability of Q4 2008 NPC data and 90 days Q4 2008 QSPBI, MERALCO data on ebergy sold for Dec. 2008, Q4 2008 MWCI data and revised weighted NPC & TRANSCO effective rate.
Q1 4.4 9.5 4.4 9.5 0.0 (0.1)  
Q2 5.4 6.7 5.4 6.6 0.0 (0.1)  
Q3 8.4 9.3 8.4 9.2 0.0 0.0  
Q4 8.3 5.5 8.3 3.8 0.0 (1.7)  
               
3. Services
current              
Q1 10.6 10.1 10.7 9.3 0.1 (0.7)  
Q2 10.1 10.7 10.1 10.7 0.0 0.0  
Q3 10.5 13.0 10.6 12.0 0.1 (1.0)  
Q4 10.2 12.4 10.0 8.5 (0.1) (3.9)  
               
  constant              
Q1 8.4 6.5 8.5 5.2 0.1 (1.4)  
Q2 8.4 4.2 8.4 4.0 0.0 (0.2)  
Q3 8.0 4.2 8.1 3.3 0.1 (0.9)  
Q4 7.8 4.9 7.7 1.3 (0.1) (3.6)  
               
   a. Transport., Comm., Storage
current              
Q1 8.0 7.0 8.0 7.0 0.0 0.0 Updated QSPBI, updated DOTC, PAL and CAB data, availability of Financial Statement (FS).
Q2 8.0 5.2 8.0 5.2 0.0 0.0  
Q3 5.1 6.9 5.1 6.9 0.0 0.0  
Q4 7.6 4.8 7.6 6.5 0.0 1.8  
               
  constant              
Q1 10.5 5.6 10.5 5.6 0.0 0.0  
Q2 9.6 3.9 9.6 3.9 0.0 0.0  
Q3 5.8 2.9 5.8 2.9 0.0 0.0  
Q4 7.4 2.6 7.4 4.5 0.0 1.9  
               
   b. Trade
current              
Q1 11.2 11.7 11.3 6.8 0.1 (4.9) Updated QSPBI and availability of Financial Statements (FS) and availabilty of DOE data.
Q2 11.1 15.6 11.0 14.1 (0.1) (1.5)  
Q3 12.4 16.2 12.5 13.1 0.1 (3.1)  
Q4 12.3 14.5 12.2 9.3 (0.1) (5.1)  
               
  constant              
Q1 7.2 5.8 7.3 1.1 0.1 (4.7)  
Q2 7.6 4.2 7.5 2.8 (0.1) (1.4)  
Q3 9.1 4.1 9.2 1.3 0.1 (2.8)  
Q4 8.8 4.9 8.7 (0.0) (0.1) (4.9)  
               
   c. Finance
current              
Q1 19.7 18.4 19.7 18.4 0.0 0.0 Availability of QSPBI , 90 days and Financial Statement.
Q2 16.8 10.8 16.8 10.8 0.0 0.0  
Q3 14.2 14.2 14.2 14.2 0.0 0.0  
Q4 14.4 14.7 14.4 4.6 0.0 (10.1)  
               
  constant              
Q1 16.3 12.2 16.3 12.2 0.0 0.0  
Q2 14.2 1.0 14.2 1.0 0.0 0.0  
Q3 11.4 1.8 11.4 1.8 0.0 0.0  
Q4 10.7 4.6 10.7 (4.6) 0.0 (9.2)  
               
   d. O. Dwellings & R. Estate
current              
Q1 6.9 9.6 6.9 9.5 0.0 (0.1) Updates on the residential building permits
Q2 6.5 11.8 6.5 11.7 0.0 (0.1)  
Q3 7.1 12.5 7.1 12.5 0.0 (0.1)  
Q4 6.1 11.8 6.0 7.7 (0.1) (4.0)  
               
  constant              
Q1 5.5 7.3 5.5 7.2 0.0 (0.1) Availability of the Q4 2008 QSPBI 90 days
Q2 6.0 7.6 6.0 7.5 0.0 (0.1)  
Q3 6.8 6.7 6.8 6.7 0.0 (0.1)  
Q4 5.0 6.5 5.0 1.7 (0.1) (4.8)  
               
   e. Private Services
current              
Q1 13.8 9.9 13.8 9.9 0.0 0.0 Availabilty of Q4 2008 QSPBI 90-days data.
Q2 13.3 11.2 13.3 11.2 0.0 0.0  
Q3 13.2 12.9 13.2 12.9 0.0 0.0  
Q4 11.3 12.1 11.3 8.7 0.0 (3.4)  
               
  constant              
Q1 8.4 5.7 8.4 5.7 0.0 0.0  
Q2 9.1 6.0 9.1 6.0 0.0 0.0  
Q3 8.7 5.5 8.7 5.5 0.0 0.0  
Q4 7.6 5.4 7.6 2.4 0.0 (3.1)  
               
   f. Government Services
current              
Q1 2.5 4.0 3.0 8.0 0.5 4.0 Availability of benchmark levels from COA 2005
Q2 3.1 5.0 3.4 8.3 0.3 3.3 Annual Financial Report (AFR)
Q3 7.0 12.0 7.4 10.9 0.4 (1.1)  
Q4 6.0 14.6 5.4 11.6 (0.7) (3.0)  
               
  constant              
Q1 1.7 2.9 2.2 5.2 (0.3) 1.2  
Q2 2.4 4.0 2.6 5.3 (0.5) 0.3  
Q3 3.4 2.5 3.8 5.5 (3.3) (6.5)  
Q4 2.9 4.8 2.3 6.2 (3.8) (8.4)  
               
GROSS DOMESTIC PRODUCT
current              
Q1 9.9 9.4 9.9 9.0 0.0 (0.4)  
Q2 11.1 13.5 11.2 13.4 0.1 (0.2)  
Q3 9.3 15.6 9.1 15.1 (0.3) (0.5)  
Q4 10.4 12.4 10.6 9.5 0.2 (2.9)  
               
  constant              
Q1 7.0 4.7 6.9 3.9 (0.1) (0.7)  
Q2 8.3 4.4 8.3 4.2 0.0 (0.3)  
Q3 7.1 5.0 6.8 4.6 (0.3) (0.4)  
Q4 6.4 4.5 6.3 2.9 (0.1) (1.7)  
               
GROSS NATIONAL  PRODUCT
current              
Q1 10.3 10.6 9.5 11.4 (0.8) 0.9  
Q2 12.6 14.6 12.2 14.5 (0.4) (0.1)  
Q3 11.2 17.5 10.8 17.0 (0.3) (0.5)  
Q4 9.9 14.5 10.1 13.6 0.2 (0.9)  
               
  constant              
Q1 7.3 5.8 6.4 6.4 (0.9) 0.6  
Q2 9.8 5.5 9.4 5.3 (0.4) (0.2)  
Q3 9.1 6.6 8.6 6.2 (0.5) (0.4)  
Q4 6.0 6.4 5.8 6.7 (0.2) 0.3  
               

 

 

 

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