Gross revenue Index declined by -13.1 percent growth in the third quarter of 2020 as compared with the 7.8 percent growth in the same period of the previous year. Among the industries, Real Estate posted the largest decline of -39.2 percent. This was followed by declines in Other Services, -32.9 percent; Transportation, Storage and Communication, -27.7 percent; and Mining and Quarrying, -13.6 percent.

Total Employment Index also recorded a -10.7 percent growth decline during the period. Other Services registered the largest drop with -18.8 percent. This was followed by declines in Transportation, Storage and Communication with -17.8 percent; Manufacturing with -6.0 percent; and Trade with -5.3 percent, during the period.

Total Compensation Index likewise declined by -10.1 percent growth. Transportation, Storage and Communication had the biggest decline with -25.1 percent. Other industries contributing to the decline were: Other Services, -16.3 percent; Manufacturing, -8.8 percent; and Real Estate with -7.0 percent.

This report is based on the December 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.