The National Statistical Coordination Board (NSCB) said that total gross revenue expanded by 15.7 percent compared to 15.8 percent growth a year ago.
This represents the industry’s total value of sales for goods produced and services rendered, said NSCB.
Real estate posted the highest growth of 38.0 percent due to higher demands for more office spaces to accommodate the expansion of call centers, medical tanscriptions and business outsourcing companies.
Finance likewise showed higher revenue of 25.0 percent mainly due to the buoyed up performance of banks resulting from both interest and non-interest income.
Total compensation grew by 3.4 percent, a slow down from the 10.5 percent growth it posted a year ago. The compensation accounted for represents the remuneration in cash and in kind paid to employees at regular intervals.
Finance posted the highest growth of 17.0 percent. Other sectors that posted positive growths are mining and quarrying, 7.0 percent, manufacturing, 4.3 percent, transportation and communication, 3.8 percent, trade, 3.4 percent and private services, 2.6 percent.
NSCB noted that total Employment grew by 0.5 percent, a slow down from the 0.9 percent growth it registered a year ago.
Employment for majority of the sectors, particularly finance, real estate, transportation and communication and private services registered positive growths of 29.1 percent, 6.2 percent, 3.6 percent and 2.6 percent, respectively.
While most sectors posted increases in employment, these were not enough to make up for the declines of the other sectors like mining and quarrying, manufacturing and electricity and water, which went down by 0.1 percent, 0.7 percent and 2.9 percent, respectively.
The slowdown of the total compensation per employee index at 6.4 percent from last year’s 9.6 percent growth was mainly due to the slow down of compensation per employee in manufacturing, electricity and water, trade and transportation and communication, and decreases recorded for real estate, private services and finance.
