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Press Statement
Total Gross Revenue Index of Industries
Decelerates to 6.7 percent in Q2 2011
(PR-201111-ES1-04, Posted 10 November 2011)
Total Gross Revenue Index of industries posted a decelerated growth of 6.7 percent in the second quarter of 2011, from a 14.0 percent growth in the previous year. Real Estate slowed down but still posted the highest growth at 16.8 percent from 33.0 percent last year. The growth can be attributed to the steady revenues from real estate projects, renting and leasing operations. This was followed by Finance, which grew by 10.9 percent and Transportation and Communication, up by 9.2 percent.
Total Employment Index declined by 1.8 percent from a 2.8 percent growth a year ago. Mining & Quarrying posted the biggest decline with 18.7 percent followed by Manufacturing, Real Estate and Transportation and Communication, which dropped by 3.1 percent, 0.7 percent and 0.1 percent, respectively. Finance recorded the highest growth with 2.2 percent.
Total Compensation Index also slowed down to a growth of 3.2 percent from last year’s growth of 9.6 percent. Real Estate again posted a double-digit growth of 24.6 percent followed by Private Services with 8.0 percent and Electricity and Water with 7.5 percent. All other sectors likewise registered positive growths except for Mining and Quarrying and Manufacturing, which declined by 1.6 percent and 0.7 percent respectively during the quarter.
Total Compensation per Employee Index grew by 5.1 percent in the second quarter of 2011 from 6.6 percent last year. All sectors posted positive growths with Real Estate recording the highest growth at 25.5 percent, followed by Mining and Quarrying at 20.9 percent and Private Services at 6.6 percent.
The information cited above is based on the Q2 2011 Quarterly Economic Indices (QEI) of the Philippines.
ROMULO A. VIROLA
Secretary General
Contact Persons:
Ms. Maria Fe M. Talento
Ms. Mail Lin C. Villaruel
Mr. Leo Allan C. Halcon
Phone No.: (632) 896-5372
Telefax No.: (632) 895-2481
E-mail: mfm.talento@nscb.gov.ph; mlc.villaruel@nscb.gov.ph; lac.halcon@nscb.gov.ph
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