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Press Statement
Total Gross Revenue Index of Industries
grows at a slower pace in Q4 2009
(PR-201004-ES1-02, Posted 30 April 2010)
Total Gross Revenue Index of industries slowed down to 8.0 percent in the fourth quarter of 2009 from 9.9 percent in the same quarter, a year ago. Finance posted the fastest growth at 14.5 percent, followed by Trade at 10.7 percent and Transportation and Communication at 7.3 percent. Manufacturing rebounded to 2.0 percent from three quarters of consecutive drop. Real Estate though, declined by 3.8 percent.
Meanwhile, Total Employment Index remained on a downtrend, posting its tenth quarter drop at 3.2 percent. Mining and Quarrying declined by 15.8 percent followed by Private Services, Manufacturing and Real Estate at negative 6.4 percent, negative 5.0 percent and negative 2.3 percent respectively. In contrast, Trade recorded the highest growth with 5.1 percent. Other sectors that posted positive employment growths are Finance, Transportation and Communication, and Electricity and Water.
Total Compensation Index sustained a positive growth of 2.1 percent from last year’s growth of 2.2 percent. The biggest growth came from Trade with 8.1 percent, followed by Electricity and Water with 8.0 percent. Transportation and Communication, Mining and Quarrying, Finance, and Private Services all registered positive growths. Conversely, Real Estate and Manufacturing, both declined by 6.4 percent and 2.6 percent respectively.
With the lower decline in total employment and the slower growth of total compensation, Total Compensation Per Employee decelerated to 5.4 percent this quarter, from 6.4 percent last year. Mining and Quarrying posted the highest growth at 23.7 percent, its sixth consecutive double-digit growth since the third quarter of 2008, followed by Electricity and Water at 7.7 percent, Private Services at 7.2 percent, Transportation and Communication at 6.2 percent, Trade at 2.9 percent and Manufacturing at 2.5 percent. The remaining sectors, however, posted declines during the period: Real Estate down by 4.1 percent and Finance down by 0.7 percent.
This report is based on the April 2010 issue of the Quarterly Economic Indices (QEI) of the Philippines.
ROMULO A. VIROLA
Secretary-General
Contact Persons:
Ms. Maria Fe M. Talento/
Ms. Mai Lin C. Villaruel/ Mr. Leo Allan C. Halcon
Telefax No.: (632) 896-5372
E-mail: mfm.talento@nscb.gov.ph;mlc.villaruel@nscb.gov.ph; lac.halcon@nscb.gov.ph
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