Gross National Product (GNP) was recorded at $18,832M (at constant 1985 prices) during the first quarter of 2007. The figure represents a 6.64% increase from last year’s first quarter GNP. Strong showings from the Agriculture, forestry and fishery sector, industrial sector and service sector contributed to the good performance. Net factor income from abroad was also higher by 3.83% compared to last year’s figure.
Gross Domestic Product (GDP) grew at a record high of 6.9% during the first quarter of 2007. The figure is the country’s highest since the first quarter of 1990. Economic growth outpaced population as per capita GDP grew at a rate of 4.8% from last year’s 3.6%. Low inflation, strong currency, government’s pump priming activities, and preparations for the May elections contributed to the strong showing.
Headline Inflation Rate in the Philippines decreased from 2.4% in May to 2.3% in June 2007. Excluding volatile items like certain food and energy goods, core inflation also decreased from 2.6% in May to 2.5% in June. Lower annual increments in food, beverages and tobacco (FBT), fuel, light and water (FLW) and services contributed to the downtrend. The country’s Headline Inflation during the same period last year was 6.7%.
Gross Domestic Product (GDP) grew at a record high of 6.9% during the first quarter of 2007. The figure is the country’s highest since the first quarter of 1990. Economic growth outpaced population as per capita GDP grew at a rate of 4.8% from last year’s 3.6%. Low inflation, strong currency, government’s pump priming activities, and preparations for the May elections contributed to the strong showing.
Headline Inflation Rate in the Philippines decreased from 2.4% in May to 2.3% in June 2007. Excluding volatile items like certain food and energy goods, core inflation also decreased from 2.6% in May to 2.5% in June. Lower annual increments in food, beverages and tobacco (FBT), fuel, light and water (FLW) and services contributed to the downtrend. The country’s Headline Inflation during the same period last year was 6.7%.
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