AS the global economic crisis of 2009 cut consumption and income in the National Capital Region and other regions in Luzon, the personal consumption expenditure (PCE) of households in the Visayas and Mindanao remained robust.
Data from the National Statistical Coordination Board (NSCB) showed that Mindanao posted the highest PCE growth in the country at 4.9 percent in 2009.
The PCE growth of households in the Visayas also posted an increase of 4.7 percent and bucked the national average.
The NSCB said PCE, which comprised 80.5 percent of total expenditures in the country, amounted to P1.15 trillion in 2009.
This represented a growth of 4.1 percent over the P1.11 trillion recorded in 2008.
“While the Visayas and Mindanao posted accelerated growth in PCE, the NCR and other areas in Luzon suffered a deceleration,” the NSCB said.
The per capita PCE of the Mindanao region was valued at P9,473.4 in 2009. However, NCR still posted the highest per capita at P29,126.3 in the same year.
The NSCB said per capita PCE of other areas in Luzon and the Visayas were pegged at around P10,637 and P9,905.50 in 2009, respectively.
With this, the Mindanao island group contributed 18.3 percent to the country’s total PCE by spending P207.8 billion in 2009, while NCR spent P332.1 billion, contributing 28.8 percent to the total PCE.
Other areas in Luzon and the Visayas consumed P427.6 billion and P185.1 billion, representing 37.1 and 18 percent, respectively, of total consumption.
In 2009 the NSCB said PCE growth in Mindanao and the Visayas increased from a rate of only 4.5 percent and 4.1 percent in 2008, respectively.
Data showed that PCE growth in NCR and other areas in Luzon decelerated to 4.5 percent and 3 percent, respectively. In 2008 PCE growth in NCR was at 5.7 percent and in other areas in Luzon, 4.2 percent.
The main source of this report is the 2007-2009 issue of the Gross Regional Domestic Expenditure (GRDE) which is compiled annually by the NSCB. –Cai U. Ordinario / Reporter, Businessmirror
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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