NSCB: Industries' gross revenue slows down in Q1

Industries posted a 7.4-percent growth in the first quarter of 2011based on the total gross revenue index, down from 11.9-percent a year earlier, the National Statistical Coordination Board (NSCB) reported Tuesday. The NSCB added that all sectors, except transportation and communication, posted slower growth from January to March this year. Real-estate growth paced down to 14.8 percent from 15.6 percent, said the NSCB. Likewise, growth in the trade sector slowed down to 5.5 percent from 8.4 percent. Private-services also slowed down to 4 percent from 7.1 percent, the NSCB noted. On the other hand, manufacturing grew by 12.3 percent compared to 23.9 percent year-on-year. The finance sector also grew by 7.5 percent from 10.7 percent, the NSCB said. Growth in transportation and communication also accelerated to 9.2 percent from 8.3 percent. Meanwhile, the NSCB noted that amid the slower growth across most industries, employment in different sectors picked up in the first quarter. Quarterly employment indices picked up by 3.7 percent in the first quarter from 1 percent in the same period last year, according to the NSCB. — PE/VS, GMA News