THE gross revenue index of industries grew by 3.5 percent in the fourth quarter of 2019, slower than the 9.3 percent growth posted in the same period a year ago, data released by the Philippine Statistics Authority (PSA) showed.
According to the PSA, the finance sector 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, the total employment index declined in the fourth quarter by 0.2 percent.
Industries that contributed to the drop in employment are manufacturing with a decline of 3.3 percent, mining and quarrying with negative 2 percent, construction with a decline of 0.3 percent and other services with a contraction of 0.5 percent.
Industries that grew in employment index are finance with 3.8 percent; real estate with 2.4 percent; trade with 2 percent; transportation, storage and communication with 1.7 percent; and electricity, gas and water supply with 0.5 percent.
Total compensation index meanwhile grew by 4.7 percent, as finance posted the fastest growth with 9 percent.
Other industries that pulled the growth up were manufacturing with 8.5 percent; real estate with 7 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.
Lastly, the compensation per employee index grew by 4.8 percent in the fourth quarter. The growth was attributed to the uptrend in manufacturing with 12.2 percent; mining and quarrying, 6.1 percent; finance, 5 percent; real estate, 4.5 percent; electricity, gas and water supply, 3.3 percent; other services, 3.1 percent; construction, 2.9 percent; and trade, 1.8 percent.
Transportation, storage and communication meanwhile declined by 3.1 percent.
