RP economy posts 4.6% growth in 2008 - NSCB

MANILA, Philippines - The Philippine economy posted a modest 4.6 percent growth for 2008 - a decline from the previous year’s 7.2 percent growth rate, the National Statistical Coordination Board (NSCB) said Thursday. Meanwhile, the country’s gross national product, which includes Filipinos’ income from abroad, was at 6.1 percent in 2008 from 8 percent in 2007. The agricultural sector, which makes up 20 percent of the country’s economy grew by 3.2 percent from 4.9 percent. Industry also posted a 5 percent expansion from 7.1 percent and services grew by 4.9 percent from 8.1 percent. - Cheryl Arcibal, GMANews.TV