Farm sector disappoints

Farm output, which accounts for about a fifth of total domestic production, grew 3.31% in the third quarter, year on year, compared to 5.51% the previous quarter, data from the Bureau of Agricultural Statistics show.

In the nine months to September, this sector’s production rose 4.19%, against 4.32% in the same period last year.

Hence, full-year growth for 2008 would likely ease to 3.8%-4.5%, from about 5.1% last year. "It looks like the year-end agriculture growth figure will be in a range of below 4%-4.5% [the original target]. Let us say 3.8-4.5%," Agriculture Sec. Arthur C. Yap told reporters, citing effects of the decreased fertilizer use amid doubled prices.