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More
positive than negative signals about the economy were eminent
during the period. Generally, the economy continued to be productive.
Looking at the bright side, the major contributors
to the economy, especially the hog and poultry industry and fishery
sectors sustained modest growth. Likewise, mineral production,
public construction, air and land transport, exports, business
climate, housing and tourism sectors performed well.
On the bleak side, major crops production was
slow. Sea transport and energy sectors were also sluggish.
As of October 2006, unemployment rate stood at
4.7 percent compared to only 4.5 percent a year ago. However,
inflation rate shoot to 5.1 percent, which is lower than the 6.3
percent inflation rate of the preceding quarter. Criminality was
also down by 17.5 percent this quarter.
Agriculture
Gross production of palay was recorded at 248,984 metric tons,
down by 2.0 percent in comparison to last year.
Copra production totaled 145,747 metric tons. This reflects a
decrease of 9.0 percent compared to the fourth quarter of 2005.
Abaca fiber production for this quarter was estimated at 4,494
metric tons. This was lower by 13.1 percent as against its comparative
figure during the last quarter of 2005.
The production of corn increased by 5.4 percent compared to a
year ago. Root crops production also increased although at a lesser
rate.
Chicken demand raised by a significant degree (193.7%). Pork consumption
had an increase of 5.0 percent. Other meat products also had increases
in demand except for cattle which experienced a 26.5 percent decline.
Fish production grew by 4.7% Commercial and aquaculture fishing
had the higher growth rates of 5.9%. Municipal fishing, which
has the largest share of 42.0% in the total fish catch, grew by
3.0 percent.
Services
A total of 1,409 business names (25.8% growth) were approved.
The residential buildings constructed totaled 129 units valued
at P58.3 Million. This output is higher by 39 units or 43.3% compared
to last year.
Tourist arrivals increased by 68.3%, or a total of 66,940 tourists.
Total number of registered motor vehicles stood at 16,340 units.,
or an increase of 2.7%.
Airline passenger traffic recorded total passengers of 114,760
or a 35.0% increase.
Cargo traffic decreased by 34.2 percent and vessel and passenger
traffics also decreased by 10.5% and 4.1%, respectively.
Industry
Total power sales by the power companies’ for the region’s
consumption was recorded at 234 gigawatt-hours, which is 10.0%
lower than the total sales in the same quarter of 2005.
The total production value of chemical chromite, a metallic mineral,
increased by 44.3%. Also, for non-metallic minerals, the value
of hydrated lime increased by 40.0%, from Php 4.5 Million during
the fourth quarter last year to Php 6.3 Million this year while
for sand and gravel, its total value of production decreased by
27.8%, from Php 7.9 Million last year to Php 5.7 Million this
year.
Public construction expenditure increased by 19.6 percent.
The volume and value of exports significantly increased by 45.3
percent and 326.8 percent, respectively. On the other hand, the
volume and value of imports decreased by 37.4 percent and 12.5
percent, respectively.
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