According to a report by the Philippine Business Daily on August 4, data released by the Philippine Statistics Authority showed that industry output in the Philippines grew by 7.4% in the first quarter. Among these, the transportation and communications sector grew by 9.2%, the manufacturing sector grew by 12.3%, the real estate sector grew by 14.8%, trade grew by 5.5%, the financial sector grew by 7.5%, and private services grew by 4%. Employment in the first quarter increased by 3.7%, with the manufacturing sector growing by 5.7%, zero growth in the real estate sector, a 3% increase in financial services, a 0.1% increase in private services, and a decrease of 8.7% in mining and quarrying.
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