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 as 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, Philippine Statistics Authority (PSA)-10 Regional Director Ruben Abaro, Jr. said.
Manufacturing, which constituted 11.0 percent of the region's economy, posted a decelerated growth of 1.5 percent from the previous year’s growth of 9.1 percent.
Construction which shared 8.6 percent of the regional economy also grew slower at 8.4 percent from the previous year’s growth of 15.9 percent.
Likewise, transportation and storage, with a share of 3.6 percent to the total economy showed a slower growth of 6.5 percent from the previous year’s growth of 17.8 percent.
The region's economy remained to have the seventh biggest share of the Philippine economy at 4.5 percent. Moreover, Region 10 contributed 0.3 percentage points to the Philippine economic growth of 6.0 percent.|(PSA10/PIA10)
