Total Gross Revenue Index of industries increased to 9.9 percent in the fourth quarter of 2008, lower by 1.4 percent compared to the previous year’s growth.  Real Estate posted the fastest growth for the fifth consecutive time, at 28.4 percent.  The second highest growth came from Finance at 13.7 percent, decelerating from a level of 14.9 percent growth in the previous year.  Trade and Manufacturing also posted double-digit growths of 10.5 percent and 10.3 percent, respectively.

Meanwhile, Total Employment Index continued to decline at 4.0 percent, the biggest drop since the third quarter of 2007.  Mining and Quarrying posted the biggest drop in employment at 30.5 percent, followed by Manufacturing and Finance at 7.0 percent and 1.4 percent, respectively. Electricity and Water; Trade; Private Services; Transportation and Communication; and Real Estate posted minimal positive growths.

Total Compensation Index slowed down to 2.2 percent from previous year’s growth of 6.7 percent.  The highest growth was recorded in Real Estate at 12.1 percent. All other sectors posted positive growths, except for Manufacturing which declined by 6.4 percent.

Total Compensation Per Employee decelerated to 6.4 percent from previous year’s growth of 9.5 percent.  The highest growth came from Mining and Quarrying at 49.0 percent, followed by Real Estate at 11.7 percent. All other sectors posted positive growths, except for Electricity and Water which declined by 0.5 percent.
     

This report is based on the April 2009 issue of the Quarterly Economic Indices (QEI) of the Philippines.

LINA V. CASTRO 
Officer-in-Charge
Office of the Secretary General

Contact Persons:

Ms. Maria Fe M. Talento/ Ms. Rhea-Ann A. Bautista/ Ms. Mai Lin C. Villaruel
Telefax No.: (632) 896-5372
E-mail: mfm.talento@nscb.gov.ph; raf.austria@nscb.gov.ph; mlc.villaruel@nscb.gov.ph