NSCB - Press Statement - Total Gross Revenue Index of Industries Declines by 0.4 Percent in Q2 2009

Total Gross Revenue Index of Industries Declines
by 0.4 Percent in Q2 2009
(PR-200911-ES1-04 , Posted 09 November 2009)

Total Gross Revenue Index of industries declined by 0.4 percent in the second quarter of 2009 from a growth of 15.0 percent in the same quarter last year. This is the first decline of the gross revenue index. While all other sectors posted positive growths, these were not enough to offset the 12.0 percent decline in Manufacturing, its second decline in the series.

Total Employment Index continued to decline by 8.8 percent, now on its eighth consecutive decline. Mining and Quarrying and Manufacturing dropped by 31.0 and 11.7 percent, respectively. This was followed by Private Services and Finance with –5.9 percent and –0.3 percent, respectively. Transportation and Communication, Real Estate, Electricity and Water and Trade on the other hand, posted minimal growths.

The decline of Compensation in Mining and Quarrying by 23.9 percent, as well as in other sectors such as Manufacturing (-8.9 percent) and
Real Estate ( –0.9 percent) caused the Total Compensation Index to drop by 1.5 percent. Transportation and Communication, Electricity and Water, Private Services, Finance and Trade posted positive growths of 8.7 percent,
7.7 percent, 3.3 percent, 2.6 percent and 0.8 percent, respectively.

With employment declining faster than compensation, Total Compensation per Employee grew by 8.1 percent, a slight slow down from 8.3 percent in the previous year. Except for Real Estate and Trade which posted declines,
all other sectors posted positive growths, led by Mining and Quarrying at
10.3 percent, followed by Private Services at 9.8 percent.

This report is based on the November 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

The Quarterly Economic Indices Homepage

Summary Tables