Region 9's growth rate declines in 2016 Print
Friday, 05 May 2017 12:09

By RG Antonet Go

The economic performance of Region 9 has decelerated from 7.7% in 2015  to 4.7% the following year due to a decline in the activity of certain industries, according to a report by the Philippine Statistics Authority (PSA.)

The major industries of Agriculture, Hunting, Forestry and Fishing (AHFF) registered a negative growth rate for 2016, resulting to far reaching effects in the economy.j

Dr. Mewchun W.S. Pamaran, PSA9 Regional Director said that a decline was registered due to a slump in the performance of all three industries in the AHFF.

Based on records, the industry sector decelerated from 2 percent in 2015 to negative 5 for the following year.

Also registering a decline is the service sector which decelerated from 6.3 percent in 2015 to 6.0 percent in 2016.

The Industry sector is composed of mining and quarrying, manufacturing, construction, electricity, gas and water supply.

The Service sector includes transportation, storage, communication, trade and repair of motor vehicles, motorcycles, personal and household goods, financial intermediation, real estate, renting and business activity, Public Administration and Defense, Compulsory Social Security.  (RGAAGo)