PH industries’ Q3 revenues still down but better than Q2 level

The country’s major industries continued to post decline in revenues in the third quarter although at a slower pace of 13.1 percent amid the gradual easing of the COVID-19 quarantine.

Philippine Statistics Authority (PSA) data showed the dip in the gross revenue index of industries reversed the 7.8-percent growth a year ago. It was, however, smaller than the second quarter contraction of 26.8 percent when 75 percent of the economy stopped due to the imposition of the lockdown starting mid-March.

The sector that suffered the biggest revenue decline from July to September was real estate, with a 39.2-percent reduction.

Revenues of the services sector fell 32.9 percent; transportat…

Keep on reading: PH industries’ Q3 revenues still down but better than Q2 level

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