Monday, April 28, 2008 [ manilatimes.net ]
OFFICE space rental and leasing operations in the business process outsourcing (BPO) sector boosted the gross revenue of industries in the fourth quarter of last year, the National Statistical Coordination Board (NSCB) said.
Romulo A. Virola, NSCB secretary-general, said in a statement that industries’ total revenue went up by 8.5 percent in the fourth quarter, from 11 percent in the previous year.
“Real estate posted the highest growth at 15.3 percent, bolstered by the increased income from office space rental and leasing operations in the BPO industry,” Virola said.
The NSCB official said the finance sector also contributed to total earnings, as its revenues expanded by 14.9 percent due to higher earnings from lending activities amid a low interest-rate environment.
The trade sector grew by 10.1 percent, driven by brisk sales from the country’s newly opened super malls.
Virola said total employment, however, declined by 2.5 percent, from a positive growth of 3.7 percent in 2006.
“Employment was pulled down by the manufacturing and electricity and water sectors, which dropped by 5 percent and 1 percent, respectively,” he said.
The real-estate sector, however, recorded the fastest growth of 15.4 percent, followed by mining and quarrying, up by 9.9 percent; finance, by 9 percent; transportation, communication and storage, by 1.4 percent; and trade, by 1.3 percent.
Total compensation, which represents the salaries and wages paid out by industries in cash and in kind, grew by 6.7 percent in the fourth quarter, the highest growth recorded for last year.
Leading the growth in compensation were transportation, communication and storage with 15.4 percent; and finance, with 12.4 percent. Other sectors which showed improvements in growth were electricity and water and trade, with 7.1 percent and 6.8 percent, respectively. -- Darwin G. Amojelar
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