In­dus­try gross rev­enues slowed to 5.9 per­cent in Q4 2015–PSA

Business Mirror - - ECONOMY - Cai U. Ordinario

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.

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