The Philippine economy grew 6.1 per cent in the first half of 2012, boosted by the services and manufacturing sectors, dpa quoted the government as saying Thursday. The growth in gross domestic product (GDP) from January to June was up from 4.2 per cent in the same period in 2011, the National Statistical Coordination Board said. "The resilient services sector remains the main driver of growth, supported by the sustained growth of manufacturing and the rebound of construction," the board said in a statement. In the second quarter alone, GDP expanded 5.9 per cent, up from 3.6 per cent in 2011. But the April-June growth was down from a revised 6.1-per cent in the first quarter of 2012. Gross national product (GNP), which includes income from abroad such as remittances from millions of overseas Filipinos, grew 5.4 per cent in the first half, up from 3 per cent in 2011. In the second quarter alone, GNP accelerated to 5.6 per cent from 2.4 per cent last year. The government has set a full-year GDP growth target of between 5 per cent and 6 per cent. In 2011, the domestic economy grew 3.1 per cent as negative global conditions hurt exports and a series of cyclones caused heavy damage.
