Industry gross revenues slowed to 5.9 percent in Q4 2015–PSA
THE growth of the country’s gross revenues of industries nationwide slowed in the fourth quarter of 2015, according to the Philippine Statistics Authority (PSA).
The country’s total gross revenue index posted a 5.9-percent growth in the fourth quarter of 2015. This is slower than the 8-percent growth posted in the same period in 2014. However, it improved from the 4.3 percent posted in the third quarter of 2015. The data was based on the April 2016 issue of the Quarterly Economic Indices (QEI) of the Philippines.
“Gross revenue refers to the value of receipts from the shipment of goods produced, resale of goods and services rendered,” the PSA said.
Real estate’s gross revenue index posted a growth of 12.7 percent in the fourth quarter of 2015, from a growth of 7.5 percent in the same period in 2014.
Transportation and communications, meanwhile, posted a growth of 9.9 percent, from a 7.7-percent growth in 2014.
While finance posted one of the highest growth rates in the fourth quarter of 2015 at 8.5 percent, this was slower than the 10.2 percent it posted in the fourth quarter of 2014.
Industries that posted the lowest growth in gross revenues in fourth quarter of 2015 are Private Services at 2.4 percent and Manufacturing at 3.5 percent.
Meanwhile, the QEI also showed that the country’s total employment index slowed to 3.2 percent, from 4.5 percent in the fourth quarter of 2014, but grew from the 2.8 percent posted in the third quarter of 2015.
In terms of the total compensation index, data showed it slowed to 6.1 percent from 8 percent, in the fourth quarter of 2014, but improved from 5.9 percent in the third quarter of 2015.
“With the slowdown of both employment and compensation, Total Compensation per Employee Index decelerated to 2.7 percent, from 3.3 percent a year ago,” the PSA said. The PSA added that this slowdown was most notable in Manufacturing at 2.9 percent, from 3.9 percent, and transportation and communications at 1.8 percent, from 5.1 percent.
The QEI provides measures of growth in production, gross revenue, employment and compensation in the various sectors of the economy. The indices can be used as deflators to express a current value in real terms, as bases for wage formulation and for forecasting and projections.