Total Gross Revenue Index of industries soared to 14.0 percent in the second quarter of 2010 as it recovered from a 0.4 percent decline in the same quarter last year.  Real Estate registered the highest growth at 33.0 percent, bolstered by high residential sales and high rental income from malls and office spaces. This was followed by Manufacturing, which grew by 19.9 percent and Trade, with a growth of 12.8 percent. 

Meanwhile, Total Employment Index posted a growth of 2.8 percent from a decline of 8.8 percent the same period a year ago. Mining & Quarrying recorded the highest growth with 27.5 percent, followed by Finance with 4.5 percent.  All other sectors recorded positive growths in Employment Index except for Transportation and Communication and Private Services, which declined by 2.9 percent and 0.6 percent, respectively.

Total Compensation Index rebounded to a positive growth of 9.6 percent from last year’s decline of 1.5 percent.  Mining and Quarrying, Manufacturing and Trade recorded double-digit growths at 38.2 percent, 13.3 percent and 12.4 percent, respectively. All other sectors likewise registered positive growths in Compensation Index during the quarter.

Total Compensation Per Employee Index, however, slowed down to 6.6 percent in the second quarter of 2010 from an 8.1 percent growth the same quarter last year.  Manufacturing registered the highest growth at 9.4 percent, followed by Mining and Quarrying at 8.3 percent and Trade at 8.2 percent. Except for Finance, which declined by 3.4 percent, all other sectors posted positive growths in their respective Compensation Per Employee Index for the second quarter of 2010.

This report is based on the October 2010 issue of the Quarterly Economic Indices (QEI) of the Philippines.

ROMULO A. VIROLA
Secretary-General

Contact Persons:

Ms. Maria Fe M. Talento/ Ms. Magnolia C. San Diego/ Mr. Leo Allan C. Halcon
Telefax No.: (632) 896-5372
E-mail: mfm.talento@nscb.gov.ph;mo.coronel@nscb.gov.ph; lac.halcon@nscb.gov.ph