Total Gross Revenue Index of Industries grew by 6.8% in Q3 2016

Released Date:
Thursday, January 19, 2017
Total Gross Revenue Index grew by 6.8 percent in the third quarter of 2016. This is higher than the 4.2 percent growth in the same quarter of the previous year. This performance was led by Real Estate, Finance and Private Services.
 
Real Estate posted the fastest growth across industries with 21.0 percent as compared with 7.4 percent growth of the previous year. It was followed by Finance with 11.7 percent, Private Services with 8.6 percent, Transportation and Communication with 7.2 percent, Trade with 6.8 percent and Manufacturing with 6.1 percent.
 
Total Employment Index inched up by 1.1 percent, slower from an expansion of 2.8 percent of the previous year. Industries that pulled up the index were Transportation and Communication with 6.5 percent growth followed by Trade with 1.8 percent, Real Estate with 1.4 percent, Finance with 1.4 percent, Manufacturing with 0.7 percent, Electricity and Water with 0.4 percent, and Private Services with 0.3 percent. On the other hand, Mining and Quarrying contracted by 2.3 percent.
 
Meanwhile, Total Compensation Index maintained its growth pace to 5.9 percent from 5.9 percent in the previous year. Real Estate and Private Services grew by 15.4 percent and 12.9 percent, respectively while Transportation and Communication dipped by 4.3 percent.
 
Total Compensation per Employee Index sped up by 4.8 percent, faster than the 3.0 percent growth from the previous year, and the fastest since the first quarter of 2013. The acceleration was attributed to the uptrend of Real Estate with 13.8 percent, Private Services with 12.6 percent, and Manufacturing with 3.5 percent. However, Transportation and Communication receded by 10.2 percent.
 
This report is based on the January 2017 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.
 
 
 
FOR THE NATIONAL STATISTICIAN:
 
 
ROMEO S. RECIDE
(Deputy National Statistician)
Officer-in-Charge