By Cai U. Ordinario
The revenues posted by various local industries slowed in the third quarter of last year, according to the Philippine Statistics Authority (PSA).
The PSA said that based on the quarterly economic indices (QEI), the total gross revenue slowed to 4.3 percent in the third quarter of 2015, from 10.1 percent in 2014.
The largest decline in growth was in manufacturing which posted a contraction of 1.8 percent in 2015, from 11.2 percent in 2014.
“[The QEI] intends to provide measures of growth in production, gross revenue, employment and compensation in the various sectors of the economy,” the PSA said.
Other economic indices, such as trade, transportation and communication, finance and real estate also posted slower growth in the third quarter.
Trade slowed to 5.6 percent in the third quarter of 2015 from 9.4 percent in 2014; transportation and communication, 9.5 percent from 18.2 percent; finance, 7.4 percent from 13.3 percent; and real estate, 7.4 percent from 10.1 percent.
Only private services posted a growth to 9.5 percent in the July to September in 2015, from 4.8 percent in the same period in 2014.
Meanwhile, the total employment index (TEI) increased at 2.8-percent growth, slower from its 4-percent growth in the same quarter last year.
“Trade pulled down the index with a 1.4-percent drop from the previous year. The rest of the industries slowed down,” the PSA said.
The TEI of real estate slowed to 5.7 percent from 11.2 percent; private services at 4.4 percent from 6.3 percent; manufacturing at 3.6 percent from 4 percent; and mining and quarrying with 2.7 percent from 3.2 percent.
The PSA also said the TEI for finance slowed to 2.1 percent from 10 percent; and transportation and communications, 0.1 percent from 3.9 percent.
“Only electricity and water rebounded from a drop of 2.2 percent to positive 0.4 percent this year,” the PSA added.