More income for industries in early 2019

Major Philippine industries posted higher gross revenue, signalling more good news for the country’s economy.

According to a report of the Philippine Statistics Authority (PSA), the finance, real estate, trade and transportation sectors enjoyed a combined increase in gross income in the three months if 2019 which was 8.1 percent higher than the same period in 2018.

The finance sector’s earnings grew the most at 14.6 percent, followed by transportation, storage and communication at 14.5 percent.

Trading income grew 14.4 percent while manufacturing grew 5.3 percent. Essential utilities like power, gas and water earned 4.7 percent more than previous months. Mining and quarrying, although facing challenges from tightening regulations, still managaed to earn 2.6 percent more. (Editor: Tony Bergonia)