National Accounts of the Philippines - Sources of Revision

National Accounts of the Philippines

Untitled Document

 

4th Quarter 2015
Gross National Income & Gross Domestic Product

 

Sources of Revision

I. Expenditure Accounts

Q3  2015 2014-2015 Reasons  for revisions
Growth Rates
Expenditure Accounts As of November 2015 As of January 2016 Change
1. Household Final Consumption Expenditure
Current        
Q3 6.7 6.5 -0.2 Updated indicators from Production.
Constant        
Q3 6.3 6.1 -0.2  
         
2. Government Final  Consumption Expenditure
Current        
Q3 17.8 17.8 0.0  
Constant        
Q3 17.4 17.4 0.0  
         
3. Capital Formation 
Current        
Q3 8.5 9.5 1.0  
Constant        
Q3 8.9 12.4 3.5  
         
   A. Fixed Capital        
Current        
Q3 8.8 10.9 2.1  
Constant        
Q3 9.3 13.3 3.9  
         
     1. Construction        
Current       Updated data from the following sources:
Q3 7.2 7.1 -0.1 1) Building permit data
Constant       2) Data from PPP Center
Q3 5.3 5.7 0.4  
         
     2. Durable Equipment
Current       Availabilty of Sept 2015 Imports data and adjustments in Manufacturing as deflator.
Q3 11.1 16.4 5.3
Constant      
Q3 12.1 19.1 7.0  
         
     3. Breeding Stocks & Orchard Development
Current       Updated data from the following sources:
Q3 6.4 6.3 -0.1 1) Inventory and farmgate prices of livestock and 
Constant        poultry
Q3 3.6 3.6 0.0 2) Agriculture data
         
     B. Changes in  Inventories
Current       Availability of the following data:
Q3 15,719           8,822 -6897.5 1) July to September data from Sugar Regulatory 
Constant        Administration (SRA)
Q3             7,721           6,198 -1522.7 2) 90 days QSPBI for Trade
         
     C. Intellectual Property Products
Current        
Q3 14.7 21.3 6.6 Updated indicators from Mining and Quarrying Sector
Constant        and Durable Equipment Sector
Q3 24.6 34.2 9.6  
         
4. Exports
Current        
Q3 1.6 1.6 0.0  
Constant        
Q3 6.4 6.5 0.1  
         
   A. Export of Goods        
Current        
Q3 -3.6 -3.6 0.0 No revision.
Constant        
Q3 5.4 5.4 0.0  
         
   B. Export of Services
Current        
Q3 13.7 13.6 -0.1 Availability of Sept 2015 data and revised July and 
Constant       August 2015 data from BSP.
Q3 11.6 12.5 0.9  
         
5. Imports
Current        
Q3 10.1 10.4 0.3  
Constant        
Q3 13.5 14.9 1.4  
         
   A.  Imports of Goods
Current        
Q3 9.5 9.6 0.1 Availability of Sept 2015 FTS data.
Constant        
Q3 14.4 15.9 1.5  
         
   B. Imports Services
Current        
Q3 12.5 13.6 1.1 Availability of Sept 2015 data and revised July and 
Constant       August 2015 data from BSP.
Q3 9.3 10.3 1.0  
         
6. Net Primary Income
Current       Updated data from the following sources:
Q3 4.9 4.4 -0.5 1) Deployment data from POEA
Constant       2) Revised data on property income and expense
Q3 4.7 4.7 0.0  from BSP.
         

 

 

II. Production Accounts

Q3  2015 2014-2015 Reasons  for revisions
Growth Rates
Production Accounts As of November 2015 As of January 2016 Change
1. AGRI., HUNTING, FORESTRY & FISHING 
Current        
Q3 -2.8 -2.9 -0.1  
Constant        
Q3 0.4 0.3 -0.1  
         
a. Agriculture and Forestry
Current        
Q3 -4.2 -4.2 0.0 Updated data from the following sources:
Constant       1) "Performance of Philippine Agriculture (Oct-Dec 2015)" 
Q3 0.0 0.2 0.2  of PSA
        2) Log Production data from the Forest and Management
b. Fishing        Bureau (FMB)
Current        
Q3 4.1 3.8 -0.3  
Constant        
Q3 1.7 1.1 -0.6  
         
         
2. Industry        
Current        
Q3 0.2 -0.1 -0.3  
Constant        
Q3 5.4 5.5 0.1  
         
   a. Mining and Quarrying
Current       Updated data from the following sources:
Q3 -19.2 -15.7 3.5 1) Mines and Geosciences Bureau
Constant       2) Department of Energy
Q3 0.9 3.6 2.7 3) 90 days QSPBI
         
   b. Manufacturing        
Current       Updated data from the following sources:
Q3 -0.9 -1.4 -0.5 1) QSPBI and MISSI data
Constant       2) updated PPI
Q3 5.6 5.5 -0.1  
         
   c. Construction        
Current       Updated data from the following sources:
Q3 7.1 6.8 -0.3 1) Building permit data
Constant       2) Data from PPP Center
Q3 4.8 5.4 0.6  
         
   d. Electricity, Gas,  and Water Supply
Current        
Q3 -1.6 -1.7 -0.1 Updated 90 days QSPBI data.
Constant        
Q3 6.7 6.6 -0.1  
         
3. Services        
Current        
Q3 7.9 7.9 0.0  
Constant        
Q3 7.3 7.2 0.0  
         
   a. Transport., Storage & Communication
Current       Updated data from the following sources:
Q3 7.9 8.3 0.4 1) 90 days QSPBI
Constant       2) Admin data from Cebu Pacific and CAB
Q3 7.6 8.1 0.5  
         
   b. Trade and Repair of Motor Vehicles,  Motorcycles, Personal and Household Goods
Current       Updated data from the following sources:
Q3 7.7 8.0 0.3 1) 90 days QSPBI
Constant       2) 3rd month WPI
Q3 7.9 8.3 0.4 3) 3rd month RPI (revised)
         
   c. Financial Intermediation
Current        
Q3 6.6 6.0 -0.6 Updated 90 days QSPBI data.
Constant        
Q3 6.0 5.4 -0.6  
         
   d. R. Estate, Renting & Business Activities
Current        
Q3 10.4 10.6 0.2 Updated 90 days QSPBI data.
Constant        
Q3 7.7 7.8 0.1  
         
   e. Public Administration & Defense; Compulsory Social Security
Current        
Q3 2.8 2.8 0.0  
Constant        
Q3 3.1 3.1 0.0  
         
   f. Other Services        
Current        
Q3 8.4 7.7 -0.7 Updated 90 days QSPBI data.
Constant        
Q3 8.0 7.2 -0.8  
         
GROSS DOMESTIC PRODUCT
Current        
Q3 4.5 4.4 -0.1  
Constant        
Q3 6.0 6.1 0.0  
         
GROSS NATIONAL  INCOME
Current        
Q3 4.6 4.4 -0.2  
Constant        
Q3 5.8 5.8 0.0  
         
         

 

Posted: 28 January 2016


 

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Updated 28 January 2016

Ver. 7.2014.234-11.04

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