Total Gross Revenue Index grew by 8.4 percent in the second quarter of 2016. This is higher than the 5.7 percent growth in the same quarter last year. This performance was led by Private Services, Trade, and Transportation and Communication.
Private Services exhibited the fastest growth across industries witH 15.3 percent as compared to 5.7 percent growth last year. It was followed by Trade with 9.0 percent, Transportation and Communication with 8.3 percent, Manufacturing with 5.8 percent, Real Estate with 5.3 percent and Finance with 3.6 percent.
Total Employment Index registered a 1.1 percent growth, lower than the 2.8 percent growth in the previous year. Real Estate continued to be the top gainer with 6.0 percent, albeit slower than last year’s 12.9 percent. Transportation and Communication and Trade also grew by 3.0 percent and 1.8 percent, respectively. On the other hand, Mining and Quarrying suffered a decline of 4.9 percent, a downturn from the previous year’s growth of 3.8 percent.
Meanwhile, Total Compensation Index decelerated to 5.1 percent as compared to the 5.9 percent growth in the previous year. Real Estate and Private Services grew by 11.1 percent and 9.8 percent, respectively while Mining and Quarrying declined further by 6.7 percent.
Total Compensation per Employee Index accelerated by 3.9 percent, higher than the 3.0 percent growth a year ago. The acceleration was attributed to the upswing of Private Services with 9.5 percent, Real Estate with 4.8 percent, Manufacturing with 4.3 percent, and Electricity and Water with 2.2 percent. Both Transportation and Communication and Mining and Quarrying suffered a setback with declines of 8.0 percent and 1.9 percent, respectively.
This report is based on the October 2016 issue of the Quarterly Economic Indices (QEI) of the Philippines.
LISA GRACE S. BERSALES, Ph.D.
National Statistician and Civil Registrar General
See more on Quarterly Economic Indices main page