Gross Revenue Index declined by 4.9 percent in the first quarter of 2020 as compared with the 8.3 percent growth in the same period of the previous year. Among the industries, Mining and Quarrying recorded the largest decline of (22.7) percent. This was followed by declines in Manufacturing, (13.2) percent; Transportation, Storage and Communication, (4.6) percent; and Other Services, (3.4) percent.

Total Employment Index also registered decline with 1.7 percent drop during the period. Industries that contributed to the decline in employment were: Mining and Quarrying, (7.3) percent; Manufacturing, (3.7) percent; Other Services, (3.4) percent; Construction, (2.8) percent; Finance, (0.2) percent; and Transportation, Storage and Communication, (0.04) percent. On the other hand, employment index in Real Estate; Electricity, Gas and Water Supply; and Trade grew by 8.0 percent, 3.4 percent and 2.2 percent, respectively.

Total Compensation Index likewise declined by 1.3 percent. Finance and Mining and Quarrying had the biggest declines with both (8.5) percent. Other industries contributing to the decline were: Transportation, Storage and Communication, (5.8) percent; Trade, (2.8) percent; Manufacturing, (2.6) percent; and Construction, (2.2) percent. Meanwhile, Electricity, Gas and Water Supply; Real Estate; and Other Services grew by 9.1 percent, 9.0 percent and 1.8 percent, respectively.

Meanwhile, Compensation per Employee Index grew by 0.4 percent. At constant prices, Compensation per Employee Index declined by 2.2 percent during the period.

This report is based on the June 2020 issue of the Quarterly Economic Indices (QEI) of the Philippines. For the technical notes, please refer to http://psa.gov.ph/qei-press-releases/technotes.