Total Gross Revenue Index grew by
9.5 percent in the first quarter of 2017. This was higher than the 6.9 percent growth in the same quarter of the previous year. This performance was led by Manufacturing, Real Estate, and Trade.
Manufacturing posted the fastest growth across industries with
13.0 percent. This was followed by Real Estate with 12.8 percent; Trade with 8.6 percent; and Transportation and Communication with 8.1 percent.
Total Employment Index posted an upturn at
1.4 percent growth. Industries that pulled up the index were Real Estate with 9.8 percent followed by Transportation and Communication with 5.5 percent; Finance with 2.8 percent; Private Service with 1.5 percent; Electricity and Water with 1.3 percent; Manufacturing with 1.0 percent; and Trade with 0.8 percent. On the other hand, Mining and Quarrying contracted by 5.6 percent.
Likewise, Total Compensation Index accelerated by
6.2 percent compared with the 4.5 percent growth recorded in the previous year. Industries contributing to the growth were Real Estate with 15.8 percent; Manufacturing with 13.7 percent; and Private Services with 5.5 percent. Meanwhile, Mining and Quarrying declined by 0.8 percent and Electricity and Water by 6.0 percent.
Total Compensation per Employee Index posted a growth of
4.8 percent growth, faster than the 4.5 percent growth in the previous year. This acceleration was attributed to the uptrend of Manufacturing with 12.6 percent, Real Estate with 5.4 percent and Mining and Quarrying with 5.1 percent. However, Electricity and Water, Transportation and Communication and Finance dropped by 7.2 percent, 2.4 percent and 1.1 percent, respectively.
This report is based on the July 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.
LISA GRACE S. BERSALES, Ph.D.
National Statistician and Civil Registrar General