Phrase: More than half recorded average yearly growth rates

[floratang]

VOA Report:

Many of the fifty countries rated as least developed have had strong economic growth in recent years. More than half recorded average yearly growth rates of four percent or more between two thousand and two thousand four. The report notes the effects of economic reforms, and the gains that oil producing countries have made from high oil prices.

More than half recorded average yearly growth rates of four percent or more between two thousand and two thousand four.

Is it a sentence or a phrase?
I don't understand it.

Thanks
_________________
a dragon is not a loong!
http://www.loong.us/

[Mister Micawber]

.
It is a sentence:

More than half [of the 50 countries]-- Subject (half is a pronomial)

recorded -- Verb

average yearly growth rates of 4% or more between 2000 and 2004 -- Object.
.
_________________
Canadian-American native speaker
who teaches English for a living at Mister Micawber's
ESL cafe: Interview with Mr. Micawber