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Farm output growth slows to 0.67 percent in first quarter
Farm output growth slows to 0.67 percent in first quarter
Reuters
Published May 08, 2019 12:51 PM PHT
Farmers tend to their rice crops in Oriental Mindoro province. Farm output in the first quarter of 2019 contracted from the same period in 2018. Erik de Castro, Reuters/File
MANILA -- Farm output grew 0.67 percent in the January to March period, slowing from 1.08 percent during the same period in 2018, the Department of Agriculture said Wednesday.
Three sub-sectors — livestock, poultry, fisheries — posted growth, while crops, which accounts for about half of agriculture's total output, contracted by a percent, the DA said.
Paddy rice harvest during the March quarter dropped 4.46 percent from a year earlier to 4.417 million tons, below the agency's forecast of 4.645 million ton for the period based on standing crop, the DA said.
Agricultural output accounted for about a tenth of the country's gross domestic product (GDP) in the recent years. The government will release first-quarter GDP data on Thursday.
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Economic growth probably slowed to 6.1 percent during the March quarter from a year earlier, a Reuters' poll showed down from 6.3 percent in the fourth quarter, partly due to a delay in approval of the national budget.
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