Release Date :
Reference Number :
201107ES103
Total Gross Revenue Index of industries grew by
Quarterly Indices on Employment, on the other hand, picked up by 3.7 percent in Q1 2011 from 1.0 percent in 2010. The moderate growth came from Manufacturing, which accelerated to 5.7 percent from 2.4 percent; and Private Services, which rebounded to a growth of 0.1 percent from negative 6.1 percent. The growth, however, was tempered due to the decline in Mining and Quarrying by 8.7 percent from a growth of 3.8 percent; and the slowdown in Real Estate by 0.0 percent from 4.0 percent; Finance which grew by 3.0 percent from 4.3 percent and Electricity and Water up by 1.2 percent from 1.6 percent.
Total Compensation Index posted a lower growth of 5.1 percent from 6.1 percent in the previous year. The accelerated growths in Real Estate by 22.2 percent from 3.1 percent; Finance, by 8.7 percent from 3.3 percent and Private Services, by 6.4 percent from 4.3 percent were offset by the decline in Compensation Index of Mining and Quarrying by 1.4 percent from a growth of 12.2 percent and the slowdown in Manufacturing, which grew by 4.9 percent from 7.2 percent; Trade, up by 5.2 percent from 11.2 percent and Transportation and Communication, which grew by 2.7 percent from 4.3 percent.
The Total Compensation Per Employee Index decelerated to 1.4 percent from 5.0 percent. While Real Estate and Finance rebounded to robust growths of 22.1 percent from negative 0.8 percent and 5.5 percent from negative 0.9 percent, respectively, the growth was pulled down by the decline in Manufacturing by 0.8 percent from a 4.7 percent growth; and the lower growths posted by Trade, which grew by 4.0 percent from 7.8 percent; Transportation and Communication, up by 3.8 percent from 5.5 percent; and Mining and Quarrying, up by 7.9 percent from 8.1 percent in 2010.
This report is based on the July 2011 issue of the Quarterly Economic Indices (QEI) of the Philippines.
ROMULO A. VIROLA
Secretary General
