Real Estate Industry Posts Fastest Growth in Q1 - PSA

Manila Bulletin, August 20, 2015 | Go to article overview

Real Estate Industry Posts Fastest Growth in Q1 - PSA


Real estate, transportation and communication and manufacturing were the leading industries that fueled the country's economic growth in the first quarter of 2015 as the total gross revenue index of key industries grew by 7.4 percent, higher than 6.3 percent growth posted in the same period last year.

The Philippine Statistics Authority (PSA) reported that the real estate industry posted the fastest growth at 13.7 percent, slightly higher than last year's 13.4 percent growth, followed by transportation and communication exhibiting a growth of 12.3 percent and manufacturing recording 10.1 percent growth, much faster than 2.2 percent growth recorded a year ago.

Private services likewise accelerated with a growth of 7.4 percent, higher than last year's recorded growth of 5.1 percent. The rest of the industries decelerated, with trade inching down to 6.1 percent from 7.1 percent last year, and finance with 3.9 percent from 6.7 percent growth last year.

The PSA noted that the total employment index improved in the first quarter of the year quarter with a 3.8 percent growth from 1.4 percent growth in the same quarter in 2014.

Real estate was the top gainer in employment, with the fastest employment index growth of 15.3 percent from 9.8 percent last year.

Private Services, accelerated to 8 percent from 1.7 percent. Finance slowed down to 7.9 percent from 8.5 percent, while manufacturing expanded to 3. …

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