All-industry revenue growth eases in 4th quarter
Gross Revenue Index expanded by 3.5 percent in Q4 2019, slower than the 9.3 percent growth posted in the same period of 2018. Finance recorded the fastest growth, with 13.7 percent, followed by Trade with 7.6 percent, Other Services with 7.3 percent, and Real Estate with 5.6 percent.
On the other hand, Total Employment Index declined by 0.2 percent. Industries that contributed to the drop in employment are: Manufacturing, with (3.3) percent; Mining and Quarrying, with (2.0) percent; Construction, with (0.3) percent; and Other Services, with (0.5) percent. Industries that grew in employment index are: Finance, with 3.8 percent; Real Estate, with 2.4 percent; Trade, with 2.0 percent; Transportation, Storage, and Communication, with 1.7 percent; and Electricity, Gas and Water Supply, with 0.5 percent.
Total Compensation Index grew by 4.7 percent. Finance posted the fastest growth with 9.0 percent. Other industries that pulled the growth up were: Manufacturing, with 8.5 percent; Real Estate, with 7.0 percent; Mining and Quarrying, with 3.9 percent; Trade; and Electricity, Gas and Water Supply, each with 3.8 percent; Other Services, with 2.6 percent; and Construction, with 2.5 percent. On the contrary, Transportation, Storage and Communication dropped by 1.4 percent.
Compensation per Employee Index grew by 4.8 percent. The growth was attributed to the uptrend in Manufacturing with 12.2 percent; Mining and Quarrying, with 6.1 percent; Finance, with 5.0 percent; Real Estate, 4.5 percent; Electricity, Gas and Water Supply, with 3.3 percent; Other Services, with 3.1 percent; Construction, with 2.9 percent; and Trade, with 1.8 percent. Meanwhile, Transportation, Storage and Communication declined by 3.1 percent.
At constant prices, Total Compensation per Employee Index grew by 3.2 percent during the period. This report is based on the March 2020 issue of the Quarterly Economic Indices (QEI) of the Philippines.