Philippines revises up Q4 GDP growth to 6.3pc y/y

MANILA: The Philippine economy grew 6.3 percent in 2018's fourth quarter from a year earlier, rather than the previously-announced 6.1 percent, the statistics agency said on Thursday.

The revision reflected changes in the trade and repair of motor vehicles, motorcycles, personal and household goods and public administration and defence sectors, the Philippine Statistics Authority said.

Full-year 2018 growth was unchanged at 6.2 percent.

First quarter gross domestic product data will be released on May 9.

In mid-March, the Philippines cut its 2019 growth target to 6-7 percent, from 7-8 percent, due to a delay in the legislative approval of this year's national budget and the United States-China trade war.

The 3.757 trillion peso ($72.10 billion) budget bill is now awaiting President Rodrigo Duterte's signature.