Industries’ revenue up 8.6% in Q3 2017

The finance industry posted the highest growth of 12.6 percent followed by private services at 9.4 percent and trade at 8.9 percent.
(Pixabay photo)

MANILA — Total gross revenues of industries from July to September in 2017 increased by 8.6 percent, the Philippine Statistics Authority (PSA) reported Friday.

The PSA noted that growth in total revenue of industries in the third quarter last year accelerated from its 6.8 percent growth in the same period in 2016.

The finance industry posted the highest growth of 12.6 percent followed by private services at 9.4 percent and trade at 8.9 percent.

Other industries that had increments in revenues in Q3 2017 were real estate, manufacturing, and transportation and communications.

Employment and compensation indices of industries also grew faster in Q3 2017 compared to Q3 2016 figures, PSA data showed.

Total employment index slightly increased to 1.5 percent in July-to-September period last year from 1.1 percent in the same months in 2016.

Industries that posted growth in employment index include real estate, at 3.1 percent, transportation and communications at 3.0 percent, trade, at 2.5 percent, private services, at 2.1 percent, manufacturing, at 1.1 percent, electricity and water, at 1.0 percent, finance, at 0.8 percent, and mining and quarrying, at 0.1 percent.

Total compensation index rose 7.4 percent in Q3 2017 from 5.9 percent in the same period in its previous year.

Likewise, total compensation per employee index increased by 5.8 percent in Q3 last year.