Industries’ gross revenue index up 6.8% in Q3 2016

MANILA -- The Philippine Statistics Authority (PSA) reported that total gross revenue index of industries in the third quarter of 2016 has increased by 6.8 percent.

The growth of revenue index of industries in Q3 2016 was faster than the same period in 2015 at 4.2 percent.

According to PSA, the strong expansion in revenue index of industries in the said period was driven by robust growth of the real estate sector, up by 21 percent; finance, up by 11.7 percent; private services, up by 8.6 percent; transportation and communication, up by 7.2 percent; trade, up by 6.8 percent; and manufacturing, up by 6.1 percent.

Total employment index of industries in Q3 last year, however, expanded by in a slower pace.

Employment index growth of industries in Q3 2016 inched up by 1.1 percent from 2.8 percent expansion in the same period in its previous year.

Transportation and communication sector's employment index has buoyed industries' total employment index. The sector's employment index recorded a 6.5-percent growth in Q3 2016.

This is followed by trade, which increased by 1.8 percent, while real estate and finance both expanded by 1.4 percent in Q3 of the previous year.

Sectors of manufacturing, electricity and water, and private services increased their employment index below 1.0 percent.

On the other hand, compensation index has maintained its growth at 5.9 percent in Q3 2016 from the same period in 2015.

Real estate and private services led the growth of compensation index of industries in Q3 2016 at 15.4 percent and 12.9 percent, respectively. (PNA)

Source: Philippines News Agency