Revenue across all industries grew 6.9% in the first quarter, data from the Philippine Statistics Authority’s (PSA) Quarterly Economic Indices report showed. This was slower than than the 8.9% recorded in the fourth quarter of 2017 and the 9.5% logged in the same period last year.
Expansion was observed across all industries. Finance posted the fastest growth with 11.7%. This was followed by Real estate (8.9%) and private services (7.7%).
Employment also rose during the period, with the total employment index increasing by 1.5%. Sub-sectors posting growth were: trade (2.8%), electricity and water (2.7%), transportation and communication (2.1%), private services (1.8%), real estate (1.4%), manufacturing (1.1%), and finance (0.5%). Meanwhile, mining and quarrying declined by 5.1%.
Total compensation rose 6.1% from 6.2% in the same period in 2017. — Mark T. Amoguis

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