Revenue growth fastest in real estate sector — PSA
Posted on January 20, 2017
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THE real estate sector was the fastest-growing generator of revenue in the third quarter of 2016, the Philippine Statistics Authority (PSA) reported yesterday.
The Total Gross Revenue Index is a measure of sales generated by companies across all industries.
According to PSA, real estate registered the fastest growth at 21.0% in third quarter, well up on the 7.4% rise a year earlier.
This was followed by finance, which posted growth of 11.4% and private services with 8.6%.
Transportation and communication sales grew 7.2% while trade and manufacturing sales increased 6.8% and 6.1%, respectively.
Meanwhile, the total employment index rose 1.1%, slower than the year-earlier 2.8%.
The growth was driven by increased employment in seven industries: transportation and communication, trade, real estate, finance, manufacturing, electricity and water, and private services.
On the other hand, a 2.3% contraction was seen in mining and quarrying jobs.
Moreover, compensation across industries grew 5.9% with real estate and private services up 15.4% and 12.9%, respectively. Compensation in transportation and communication fell 4.3% in the third quarter.
The data also showed that total compensation paid per employee grew 4.8% in the third quarter, up from the 3.0% rise in the same period in 2015, driven by upticks in real estate, private services and manufacturing.
Compensation per employee, however, fell 10.2% in transportation and communication.
