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GDP growth slows down to 4.6 percent

The Philippine economy has been damaged but not quite ravaged by the global financial turmoil and high oil prices that resulted in a decelerated third quarter GDP growth of 4.6 percent from 7.1 percent. The decent growth in GDP drew on the strong performances of Manufacturing, Construction and Trade. On the demand side, household spending led the growth followed by merchandise exports and construction. The increase both in the stock and employment quality of Filipino residents working abroad drove NFIA to a 24.7 percent growth, from 31.9 percent last year, which propped up GNP by 6.5 percent from 9.1 percent.

NSCB Holds Workshop
on the Review and Evaluation
of the Philippine Statistical System

The National Statistical Coordination Board (NSCB) held a Workshop on the Review and Evaluation of the Philippine Statistical System (PSS) aimed to discuss and assess the findings and recommendations of the Special Committee (SC) created by the Board to review and make recommendations to enhance the PSS. The workshop sponsored by the Bangko Sentral ng Pilipinas (BSP) and participated in by members and/or representatives of the NSCB Executive Board, members of the Core Group of Resource Persons, and the Technical Staff of major statistical agencies and selected department/agencies was held on November 19, 2008 at the Visayas Function Room, Five Story Building of the Bangko Sentral ng Pilipinas.

Cellular mobile telephone subscribers outnumber fixed line telephone subscribers by 15 to 1

In 2007, the total number of cellular mobile telephone (CMT) subscribers was estimated at 57.3 million, almost 15 times more than the number of fixed line telephone subscribers estimated at 3.9 million. Data from the National Telecommunication Commission (NTC) also show that CMT subscription started to outnumber fixed line subscription in 2000 when it registered a ratio of 2 to 1.