Q3 GDP growth revised upward to 7.2 pct

Posted at 01/30/13 5:33 PM

MANILA, Philippines (UPDATED) - The National Statistical Coordination Board (NSCB) on Wednesday upgraded the Philippines' third-quarter gross domestic product (GDP).

The agency said the country's economy grew by 7.2% in the three months to September, slightly higher than the initial estimate of 7.1% announced in November.

NSCB did not provide any explanation for the revision.

The 7.1% third-quarter GDP growth had already surprised analysts and business groups, and made government confident that the full-year economic growth may even surpass the 5% to 6% target.

President Aquino on Tuesday said the 2012 GDP figure will be "impressive."  Fourth quarter and full-year GDP data is set to be released on Thursday.