2 weeks Industry revenue declines amid COVID pandemic MB |Biz
By CHINO S. LEYCO The gross revenue of the country’s key industries decreased in the first-quarter, reflecting the grim economic conditions due to coronavirus, data from the Philippine Statistics Authority (PSA) showed. The latest PSA data released yesterday showed that the gross revenue index declined by 4.9 percent in January to March this year, or reversal of the 8.3 percent growth registered in the same period last year. Among the industries, mining and quarrying recorded the largest decline of 22.7 percent, followed by manufacturing’s -13.2 percent; transportation, storage and communication’s -4.6 percent; and other Services’ -3.4 percent. At end-March, total ... more