First Quarter 2011
PHILIPPINE ECONOMY POST A MODEST 4.9 PERCENT gross domestic product GROWTH
Posted 30 May 2011
Underspending by the government and the slowdown in world(prenominal) trade constricted the economy to a lower developing in the now 2000-based GDP of 4.9 per centumage in the premier(prenominal) quarter from the election stimulated 8.4 percent last year. The effort driven growth benefited from the sustained growth of Manufacturing supported by Other Services, Real Estate, Renting and Business Activities, and the recovery of horticulture but tempered by the lackluster trading activities and the certify consecutive quarter of decline in Public judicial system and Defense and Compulsory Social Security which used to be referred to as Government Services.
On the demand side, the growth came primarily from increased investments in fixed capital formation especially durable equipment and Household spending.
As a result of the political crisis in the Middle East and North Africa, Net elemental Income (NPI) posted zero growth slowing down the arrant(a) National Income (GNI) to 3.6 percent from 11.5 percent the preceding year, partly similarly because of the peso appreciation.
On a seasonally adjusted basis, GDP grew by 1.9 percent while GNI grew at a long-play pace of 0.9 percent in the for the first time quarter of 2011 referable to the slow down in NPI.
With the rebound of palay, sugarcane and corn, the Agriculture, Hunting, Forestry and fishery sector posted 0.9 percent growth in the first quarter from 1.8 percent in the fourth quarter of 2010. assiduity grew by 3.2 percent from 2.1 percent gain in the previous quarter. The strong performance of the manufacturing sector ably supported by Mining & Quarrying and Construction negated the contraction of Electricity muff and Water. Services sector likewise posted a 1.3 percent growth for the first quarter of 2010 after declining by 0.7 percent in the previous quarter, as all subsectors recorded imperious growth except for Public Administration and Defense which...If you exigency to get a full essay, order it on our website: Orderessay
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