Considerably higher than the 5.7 percent growth in the same quarter last year, the total Gross Revenue Index of the Philippine industry grew by 8.4 percent in the second quarter of 2016, data from the Quarterly Economic Indices Report released by the Philippine Statistics Authority showed.
“Private Services exhibited the fastest growth across industries with 15.3 percent as compared to 5.7 percent growth last year. It was followed by Trade with 9.0 percent, Transportation and Communication with 8.3 percent, Manufacturing with 5.8 percent, Real Estate with 5.3 percent and Finance with 3.6 percent,” said National Statistician and Civil Registrar General, Dr. Lisa Grace S. Bernales.
In terms of the Total Employment Index , a 1.1 percent growth was recorded. This is lower than the 2.8 percent growth in the previous year.
Meanwhile, the Real Estate sector retained its status as the top gainer after achieving a 6.0 percent growth rate. Transportation and Communication and Trade also grew by 3.0 percent and 1.8 percent, respectively.
Source: Philippine Statistics Authority