NorMin Economy Grows at a Slower Pace in 2019 by 5.9%

The economy of Region 10 expanded at a slower pace by 5.9 percent in 2019 compared with the recorded growth in the previous year of 7.1 percent. 

The slower growth was due to the slowdown in Manufacturing, Construction and Transportation and Storage.

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Manufacturing, which constituted 11.0 percent of the Region X economy, posted a deceleration of 1.5 percent from the previous year’s growth of 9.1 percent. 

Construction which shared 8.6 percent of the regional economy, grew slower at 8.4 percent from the previous year’s growth of 15.9 percent. 

Transportation and Storage, with a share of 3.6 percent to the total economy, also grew slower at 6.5 percent from the previous year’s growth of 17.8 percent.   

Of the 5.9 percent economic growth in the region, Trade and Repair of Motor Vehicles and Motorcycles was the top contributor to growth with 1.9 percentage points, followed by Construction at 0.7 percentage points and Education at 0.6 percentage points.

Region X’s economy continued to have the seventh biggest share of the Philippine economy at 4.5 percent. 

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Moreover, Region X contributed 0.3 percentage points to the Philippine economic growth of 6.0 percent.

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