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Fourth Quarter 2009
Gross National Product & Gross Domestic Product

Sources of Revision
as of May 2010

Revisions in annual 2007, 2008 and 2009 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 2007, there was a slight upward revision in the growth of both GDP and GNP; for 2008, 3.8 percent to 3.7 percent and, for 2009, 0.9 percent to 1.1 percent.  For GNP, revisions were as follows:  for 2007, from 5.5 to 5.4 percent; for 2008, from 6.2 percent to 6.4 percent; and for 2009, from 2.9 percent to 4.0 percent.

I. Expenditure Accounts

Q1  to Q4

 Growth Rates

As of Jan. 2010 As of May 2010 Change Reasons for revisions
2007-
2008
2008-
2009
2007-
2008
2008-
2009
2007-
2008
2008-
2009
1. Personal Consumption Expenditure
Current              
Q1 11.1 9.4 11.1 10.5 0.0 1.1 Availability of more updated data/information
Q2 14.2 9.2 14.2 9.3 0.0 0.1 on expenditure by item
Q3 17.3 3.5 17.3 2.9 0.0 (0.6) Revised GVA trend of related production 
Q4 15.1 8.0 15.1 7.6 0.2 0.2   sectors and PCE related items of Exports and Imports.
               
Constant              
Q1 5.1 1.3 5.1 3.0 0.0 1.7  
Q2 4.1 5.4 4.1 5.5 0.0 0.1  
Q3 4.4 3.2 4.4 2.6 0.0 (0.6)  
Q4 5.0 5.1 5.0 5.0 0.0 (0.1)  
               
2. Government  Consumption Expenditure
Current              
Q1 4.4 7.1 4.4 7.1 0.0 0.0 Availability of  data from the Commission on Audit (COA). 
Q2 6.4 13.8 6.4 13.8 0.0 0.0
Q3 18.1 15.3 18.1 15.3 0.0 0.0
Q4 10.0 17.0 10.0 17.0 0.0 0.0
             
Constant            
Q1 (0.3) 4.5 (0.3) 4.5 0.0 0.0
Q2 0.0 9.7 0.0 9.7 0.0 0.0
Q3 11.8 8.1 11.8 8.1 0.0 0.0
Q4 2.6 12.1 2.6 12.1 0.0 0.0
               
3. Capital Formation
Current              
Q1 (1.6) 1.3 (1.6) 1.3 0.0 0.0  
Q2 18.9 (2.6) 18.9 (2.6) 0.0 0.0  
Q3 26.9 (14.9) 26.9 (14.9) 0.0 0.0  
Q4 0.5 (4.5) 0.5 (4.5) 0.0 0.0  
Constant              
Q1 (1.7) (15.1) (1.7) (15.1) 0.0 0.0  
Q2 13.6 (10.3) 13.6 (10.3) 0.0 0.0  
Q3 9.4 (12.1) 9.4 (12.1) 0.0 0.0  
Q4 (13.1) (0.8) (13.1) (0.8) 0.0 0.0  
               
   A. Fixed Capital
Current              
Q1 3.6 1.3 3.6 9.3 0.0 7.9  
Q2 8.8 (2.6) 8.8 1.5 0.0 4.1  
Q3 26.9 (14.9) 21.4 (0.7) (5.5) 14.3  
Q4 0.5 (4.5) 12.7 (5.3) 12.2 (0.8)  
Constant              
Q1 3.0 (7.2) 3.0 (7.2) 0.0 0.0  
Q2 1.7 (3.9) 1.7 (3.9) 0.0 0.0  
Q3 7.1 (0.9) 7.1 (0.9) 0.0 0.0  
Q4 0.1 (1.6) 0.1 (1.6) 0.0 0.0  
               
 1. Construction
Current              
Q1 0.2 19.9 0.2 19.9 0.0 0.0 Based on the updated data in building permits from NSO & BESF and GOCC.  Actual cash disbursements for capital transfers to LGU Q4 2009. Average index for Q4 2009 and availabilty of 90 days QSPBI.
Q2 10.9 16.7 10.9 16.7 0.0 0.0
Q3 30.1 1.9 30.1 1.9 0.0 0.0
Q4 23.1 (2.6) 23.1 (2.6) 0.0 0.0
             
Constant            
Q1 (4.1) 6.7 (4.1) 6.7 0.0 0.0
Q2 1.0 8.9 1.0 8.9 0.0 0.0
Q3 14.3 1.7 14.3 1.7 0.0 0.0
Q4 8.2 (2.9) 8.2 (2.9) 0.0 0.0
               
 2. Durable Equipment
current              
Q1 8.1 (11.0) 8.1 (11.0) 0.0 0.0  Due to Revision of 2009 Imports data and Exports data and revision in Manufacturing.
Q2 3.1 (22.7) 3.1 (22.7) 0.0 0.0
Q3 6.5 (5.0) 6.5 (9.8) 0.0 (4.8)
Q4 (8.5) (6.0) (8.5) 6.0 0.0 12.0
             
  constant            
Q1 9.6 (18.5) 9.6 (18.5) 0.0 0.0
Q2 3.7 (19.7) 3.7 (19.7) 0.0 0.0
Q3 1.0 (4.2) 1.0 (3.5) 0.0 0.7
Q4 (7.9) (0.1) (7.9) 13.8 0.0 13.9
               
 3. Breeding Stocks & Orchard Dev't
current             Updated production data from the Bureau of Agricultural Statistics (BAS) and Forest Management Bureau (FMB).
Q1 3.0 49.7 3.0 49.8 0.0 0.1
Q2 22.2 (7.2) 22.2 (6.8) 0.0 0.4
Q3 46.7 1.5 46.7 1.5 0.0 0.0
Q4 41.4 (14.0) 41.4 (14.7) 0.0 (0.7)
             
constant            
Q1 (2.3) 1.0 (2.4) 0.9 (0.1) (0.1)
Q2 (5.1) (5.6) (5.1) (5.1) 0.0 0.5
Q3 (0.4) 1.5 (0.6) 1.4 (0.2) (0.1)
Q4 1.2 (2.0) 1.1 (2.5) (0.1) (0.5)
               
 B. Change in  Stocks 
current              
Q1  18,795         457    18,795          457              -              -  

Availability of 2008 COA Annual Financial Report

QSPBI 90 Days & revised MISSI for 2009

Updated data from BAS, SRA & DOE.

Q2    7,654    (5,005)      7,654     (5,005)              -              -  
Q3  14,402   (27,464)    14,402    (27,464)              -              -  
Q4       911      2,921          911      2,921              -              -  
             
constant            
Q1    3,940    (1,535)      3,940     (1,535)              -              -  
Q2    2,936    (1,774)      2,936     (1,774)              -              -  
Q3    1,995    (5,004)      1,995     (5,004)              -              -  
Q4      (721)       (276)        (721)        (276)              -              -  
               
4. Exports
current              
Q1 (8.1) (13.6) (8.1) (13.6) 0.0 0.0  
Q2 0.2 (14.6) 0.2 (14.6) 0.0 0.0  
Q3 4.8 (14.0) 4.8 (14.0) 0.0 0.0  
Q4 (9.9) (6.1) (9.9) (6.1) 0.0 0.0  
               
  constant              
Q1 (7.7) (14.7) (7.7) (14.7) 0.0 0.0  
Q2 6.1 (18.1) 6.1 (18.1) 0.0 0.0  
Q3 3.3 (13.0) 3.3 (13.0) 0.0 0.0  
Q4 (11.5) (10.0) (11.5) (10.0) 0.0 0.0  
               
   A. Total Mdse Exports
current              
Q1 (12.6) (25.7) (12.6) (25.6) 0.0 0.1  Re-run Exports data 
Q2 (3.5) (20.6) (3.5) (20.6) 0.0 0.0  
Q3 4.3 (17.2) 4.3 (17.0) 0.0 0.2  
Q4 (9.4) (5.2) (9.4) 0.4 0.0 5.6  
               
constant              
Q1 (10.9) (24.6) (10.9) (24.4) 0.0 0.2  
Q2 5.9 (22.4) 5.9 (22.3) 0.0 0.1  
Q3 4.8 (14.6) 4.4 (14.4) (0.4) 0.2  
Q4 (9.4) (9.1) (9.4) (5.0) 0.0 4.1  
               
   B. Non-Factor Services
current              
Q1 12.3 29.4 12.3 29.4 0.0 0.0  
Q2 17.3 8.1 17.3 8.1 0.0 0.0  
Q3 5.5 (0.6) 5.5 (0.6) 0.0 0.0  
Q4 (12.1) (9.8) (12.1) (9.8) 0.0 0.0  
               
constant              
Q1 5.9 21.1 5.9 21.1 0.0 0.0  
Q2 7.3 3.0 7.3 3.0 0.0 0.0  
Q3 (4.3) (4.1) (4.3) (4.1) 0.0 0.0  
Q4 (19.4) (13.9) (19.4) (13.9) 0.0 0.0  
               
5. Imports
current              
Q1 3.2 (23.1) 2.1 (19.5) (1.2) 3.6  
Q2 5.7 (17.9) 4.7 (18.1) (1.0) (0.2)  
Q3 10.7 (22.8) 9.8 (23.9) (0.9) (1.0)  
Q4 (10.6) (8.9) (11.6) (4.8) (1.0) 4.1  
               
constant              
Q1 (2.6) (20.6) (4.7) (11.3) (2.1) 9.3  
Q2 (0.0) (2.2) (1.3) (2.2) (1.2) 0.0  
Q3 6.7 0.1 6.0 (2.8) (0.7) (2.9)  
Q4 5.0 (2.5) 3.1 6.1 (1.9) 8.5  
               
   A. Total Mdse Imports
current              
Q1 4.3 (27.0) 3.1 (23.2) (1.2) 3.8  
Q2 5.6 (20.2) 4.5 (20.4) (1.1) (0.2)  
Q3 9.6 (24.0) 8.6 (25.1) (0.9) (1.1)  
Q4 (13.0) (8.4) (14.0) (3.9) (1.1) 4.6  
               
constant             Updated FTS data and updated deflator.
Q1 (3.4) (22.6) (5.7) (12.5) (2.3) 10.1  
Q2 (1.3) (2.1) (2.7) (2.1) (1.3) 0.0  
Q3 5.3 1.4 4.5 (1.7) (0.7) (3.2)  
Q4 5.8 (1.8) 3.7 7.5 (2.1) 9.3  
               
   B. Non-Factor Services
current              
Q1 (9.8) 29.8 (9.8) 29.8 0.0 0.0  
Q2 8.2 16.0 8.2 16.0 0.0 0.0  
Q3 28.6 (6.6) 28.6 (6.6) 0.0 0.0  
Q4 18.3 (12.7) 18.3 (12.7) 0.0 0.0  
               
constant              
Q1 7.7 1.8 7.7 1.8 0.0 0.0  
Q2 19.2 (3.2) 19.2 (3.2) 0.0 0.0  
Q3 28.2 (16.1) 28.2 (16.1) 8.8 0.0  
Q4 (3.6) (10.3) (3.6) (10.3) 0.0 0.0  
               
6. NFIA
current              
Q1 42.5 37.4 42.7 39.9 0.2 2.5  
Q2 25.9 29.2 36.7 36.0 10.8 6.8  Revised data on demployment from POEA and revised  BOP data from BSP.
Q3 37.3 27.6 40.1 36.9 2.8 9.3  
Q4 65.9 10.1 66.1 21.7 0.2 11.6  
               
constant              
Q1 36.2 25.8 36.5 28.7 0.3 2.9  
Q2 15.8 23.9 25.8 30.4 10.0 6.5  
Q3 22.6 26.1 25.2 35.2 2.6 9.1  
Q4 51.2 7.5 51.3 19.5 0.1 12.0  
               

 

II. Production Accounts

Q1  to Q4
Growth Rates
As of Jan. 2010 As of May 2010 Change Reasons  for revisions
2007-2008 2008-2009 2007-2008 2008-2009 2007-2008 2008-2009
1. Agriculture, Fishery, Forestry
current              
Q1 15.6 8.9 15.5 9.0 (0.1) 0.0 More updated volume and average farmgate price from BAS. Updated report on log production from FMB.
Q2 30.4 (3.8) 30.4 (3.7) 0.0 0.1
Q3 20.0 (1.8) 19.8 (1.9) (0.2) (0.1)
Q4 7.3 10.1 7.1 8.3 (0.1) (1.8)
               
  constant              
Q1 2.8 2.1 2.7 2.1 (0.1) 0.0  
Q2 4.9 0.2 4.9 0.2 0.0 0.0  
Q3 2.5 1.5 2.3 1.4 (0.2) (0.1)  
Q4 2.9 (2.8) 2.8 (2.9) (0.1) (0.1)  
               
2. Industry
current              
Q1 5.5 0.1 5.5 0.1 0.0 0.0  
Q2 11.5 (3.8) 11.5 (3.8) 0.0 0.0  
Q3 18.2 (7.0) 18.2 (7.1) 0.0 (0.1)  
Q4 12.3 1.5 12.0 3.7 (0.3) 2.1  
               
  constant              
Q1 2.7 (2.5) 2.7 (2.5) 0.0 0.0  
Q2 4.0 (1.7) 4.0 (1.7) 0.0 0.0  
Q3 7.6 (5.0) 7.6 (5.0) 0.0 0.0  
Q4 5.3 1.1 5.1 3.0 (0.3) 1.9  
               
   a. Mining and Quarrying
current              
Q1 1.7 10.0 1.7 9.5
0.0
(0.5)  
Q2 (13.9) (19.9) (13.9) (19.9) 0.0 0.0 Updated Production Report from the Mines & Geosciences Bureau (MGB) & Dept of Energy (DOE)
Q3 20.2 13.4 20.2 13.6 0.0 0.2  
Q4 15.4 38.2 15.4 39.3 0.0 1.0 Availability of 90 days QSPBI; availability of 
                 cement sales data from CEMAP.
  constant              
Q1 12.3 19.5 12.3 19.2 0.0 (0.4)  
Q2 (13.7) 22.1 (13.7) 22.1 0.0 0.0  
Q3 0.7 26.9 0.7 29.5 0.0 2.6  
Q4 18.2 17.0 18.2 17.0 0.0 0.0  
               
   b. Manufacturing
current              
Q1 7.2 (4.2) 7.2 (4.2) 0.0
0.0
 
Q2 16.5 (10.2) 16.5 (10.2) 0.0 0.0 Update in MISSI. Availablity of PPI data for December 2009. Availability of 90 days QSPBI.
Q3 18.6 (11.8) 18.6 (11.9) 0.0 (0.1) Availability of Q4 2009 DOE data for petroleum products.
Q4 11.9 0.6 11.5 3.4 (0.4) 2.8  
               
  constant              
Q1 2.4 (7.6) 2.4 (7.6) 0.0 0.0  
Q2 6.1 (7.4) 6.1 (7.4) 0.0 0.0  
Q3 5.4 (7.8) 5.4 (7.9) 0.0 (0.1)  
Q4 3.4 1.3 3.0 3.9 (0.3) 2.6  
               
   c. Construction
current              
Q1 (0.1) 20.2 (0.1) 20.2 0.0
0.0
Availability of 90 days Building Permits from NSO.
Q2 10.5 17.8 10.5 17.8 0.0 0.0 BESF -DBM for National Government and GOCC.
Q3 30.6 2.6 30.6 2.6 0.0 0.0  
Q4 22.8 (2.8) 22.8 (2.8) 0.0 0.0  
               
  constant             Updated deflators and Average Earnings Index.
Q1 (4.3) 14.0 (4.3) 14.0 0.0 0.0  
Q2 2.3 14.0 2.3 14.0 0.0 0.0  
Q3 20.5 0.9 20.5 0.9 0.0 0.0  
Q4 14.5 (5.8) 14.5 (5.8) 0.0 0.0  
               
   d. Electricity, Gas, Water
current              
Q1 3.6 (1.3) 3.6 (1.3) 0.0
0.0
 
Q2 3.9 6.4 3.9 6.4 0.0 0.0  
Q3 (0.5) 3.0 (0.5) 3.0 0.0 0.0  
Q4 0.7 1.8 0.7 3.1 0.0 1.3  
               
  constant             Availabilty of December 2009 Generation data of NPC and Oct.-Dec. 2009 Transmission Revenue of NGCP.Availability of 90 days QSPBI.
Q1 9.5 0.6 9.5 0.6 0.0 0.0
Q2 6.6 (4.9) 6.6 (4.9) 0.0 0.0
Q3 9.2 (6.3) 9.2 (6.3) 0.0 0.0
Q4 3.8 0.5 3.8 0.1 0.0 (0.4)
               
3. Services
current              
Q1 9.3 6.2 9.3 6.2 0.0 0.0  
Q2 10.7 5.5 10.7 5.5 0.0 0.0  
Q3 12.0 6.3 12.0 6.3 0.0 0.0  
Q4 8.5 7.9 8.5 7.9 0.0 0.0  
               
  constant              
Q1 5.2 2.0 5.2 2.0 0.0 0.0  
Q2 4.0 2.7 4.0 2.7 0.0 0.0  
Q3 3.3 3.8 3.3 3.8 0.0 0.0  
Q4 1.3 4.2 1.3 4.2 0.0 0.0  
               
   a. Transport., Comm., Storage
current              
Q1 7.0 5.8 7.0 5.8 0.0
0.0
Updated QSPBI,  updated DOTC and CAB data, availability of Financial Statement (FS).
Q2 5.2 0.9 5.2 0.9 0.0 0.0  
Q3 6.9 (0.1) 6.9 (0.1) 0.0 0.0  
Q4 6.5 2.0 6.5 2.0 0.0 0.0  
               
  constant              
Q1 5.6 5.6 5.6 5.6 0.0 0.0  
Q2 3.9 1.0 3.9 1.0 0.0 0.0  
Q3 2.9 (1.5) 2.9 (1.5) 0.0 0.0  
Q4 4.5 1.9 4.5 1.9 0.0 0.0  
               
   b. Trade
current              
Q1 6.8 4.5 6.8 1.6 0.0 (2.9) Updated QSPBI and availability of Financial Statements (FS)  from SM and availabilty of DOE data.

Updated WPI and RPI data from NSO.

Q2 14.1 3.6 14.1 0.6 0.0 (3.0)
Q3 13.1 3.9 13.1 0.9 0.0 (3.0)
Q4 9.3 8.1 9.3 6.1 0.0 (2.0)
               
  constant              
Q1 1.1 0.4 1.1 (1.0) 0.0 (1.4)  
Q2 2.8 2.7 2.8 0.2 0.0 (2.5)  
Q3 1.3 4.4 1.3 1.6 0.0 (2.8)  
Q4 (0.0) 3.5 (0.0) 2.6 0.0 (0.9)  
               
   c. Finance
current              
Q1 18.4 8.2 18.4 8.2 0.0 0.0 Availability of QSPBI 90 days and Financial Statements of selected banks and non-banks.
Q2 10.8 9.1 10.8 9.1 0.0 0.0
Q3 14.2 11.9 14.2 11.9 0.0 0.0
Q4 4.6 14.2 4.6 14.2 0.0 0.0
               
  constant              
Q1 12.2 1.2 12.2 1.2 0.0 0.0  
Q2 1.0 5.8 1.0 5.8 0.0 0.0  
Q3 1.8 11.5 1.8 11.5 0.0 0.0  
Q4 (4.6) 11.0 (4.6) 11.0 0.0 0.0  
               
   d. O. Dwellings & R. Estate
current              
Q1 9.5 5.4 9.6 5.5 0.1 0.1  
Q2 11.7 1.4 11.8 1.4 0.1 0.0 Updates on the residential building permits
Q3 12.5 0.4 12.6 0.4 0.1 0.0  
Q4 7.7 3.2 7.8 5.5 0.1 2.3  
               
  constant              
Q1 7.2 0.7 7.2 0.8 0.0 0.1 Availability of the Q4 2009 QSPBI 90 days
Q2 7.5 (2.5) 7.6 (2.5) 0.1 0.0  
Q3 6.7 (2.3) 6.7 (2.3) 0.0 0.0  
Q4 1.7 0.3 1.8 3.2 0.1 2.9  
               
   e. Private Services
current              
Q1 9.9 8.9 9.9 11.0 0.0 2.1 Availabilty of Q4 2009 QSPBI 90-days data and 
Q2 11.2 5.9 11.2 10.7 0.0 4.8 updated indicator from Business Association.
Q3 12.9 6.5 12.9 9.2 0.0 2.7  
Q4 8.7 8.0 8.7 11.9 0.0 3.9  
               
  constant              
Q1 5.7 2.5 5.7 4.0 0.0 1.5  
Q2 6.0 2.1 6.0 5.9 0.0 3.8  
Q3 5.5 4.4 5.5 6.7 0.0 2.3  
Q4 2.4 6.1 2.4 8.9 0.0 2.8  
               
   f. Government Services
current              
Q1 8.0 2.8 8.0 2.8 0.0 0.0 Availability of benchmark levels from COA 2005
Q2 8.3 13.5 8.3 13.5 0.0 0.0 Annual Financial Report (AFR)
Q3 10.9 17.3 10.9 17.3 0.0 0.0  
Q4 11.6 12.1 11.6 12.1 0.0 0.0  
               
  constant              
Q1 5.2 1.1 5.2 1.1 (2.8) (1.7)  
Q2 5.3 8.7 5.3 8.7 (3.0) (4.8)  
Q3 5.5 6.6 5.5 6.6 (5.4) (10.7)  
Q4 6.2 3.4 6.2 3.4 (5.4) (8.6)  
               
GROSS DOMESTIC PRODUCT
current              
Q1 9.0 4.7 9.0 4.7 0.0 0.0  
Q2 13.4 1.2 13.4 1.2 0.0 0.0  
Q3 15.1 0.8 15.0 0.8 0.0 0.0  
Q4 9.5 6.3 9.4 6.6 (0.1) 0.4  
               
constant              
Q1 3.9 0.6 3.9 0.6 0.0 0.0  
Q2 4.2 0.8 4.2 0.8 0.0 0.0  
Q3 4.6 0.4 4.5 0.4 0.0 0.0  
Q4 2.9 1.8 2.8 2.4 (0.1) 0.6  
               
GROSS NATIONAL  PRODUCT
current              
Q1 11.4 7.7 11.4 7.7 0.0 0.0  
Q2 14.5 4.0 14.5 4.0 0.0 0.0  
Q3 17.0 3.5 17.0 3.5 0.0 0.0  
Q4 13.6 6.7 13.5 7.0 (0.1) 0.3  
               
  constant              
Q1 6.4 3.1 6.4 3.1 0.0 0.0  
Q2 5.3 3.2 5.3 3.2 0.0 0.0  
Q3 6.2 3.1 6.2 3.1 0.0 0.0  
Q4 6.7 2.4 6.6 3.0 (0.1) 0.5  
               

 

 

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