Underspending by the government and the slowdown in global trade constricted the economy to a lower growth in the now 2000-based GDP of 4.9 percent in the first quarter from the election stimulated 8.4 percent last year. The industry driven growth benefited from the sustained growth of Manufacturing supported by Other Services, Real Estate, Renting and Business Activities, and the recovery of Agriculture but tempered by the lackluster trading activities and the second consecutive quarter of decline in Public Administration and Defense and Compulsory Social Security which used to be referred to as Government Services.
http://www.nscb.gov.ph/sna/2011/1st2011/2011qpr1.asp
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