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2017 2018
Indicator 2nd 3rd 4th 1st 2nd
Quarter Quarter Quarter Quarter Quarter
Consumer Price 111.5 112.0 112.6 113.7 114.5
Index
(2012=100)
Inflation Rate 4.0 3.7 2.8 2.0 2.7
(%)(2012=100)
Employment 93.3 93.3 92.9 94.0 94.6
Rate (%)
Underemploym 9.7 10.3 10.0 11.5 13.8
ent Rate (%)
Palay 1,119,454 287,696 1,553,435 679,557 1,128,907
Production (MT)
Second Quarter Corn Production 119,195 22,270 5,041 124,654 122,317
(MT)
2018 Livestock 100,690 107,107 158,977 116,013 109,392
Production1 (MT)
Poultry 198,690 177,097 194,089 197,799 208,135
Production2 (MT)
Fisheries (MT) 83,176 39,825 71,828 92,187 97,199
The table above presents the key economic indicators in Central Luzon
from second quarter of 2017 to second quarter of 2018.
The region’s consumer price index (CPI) slightly increased to 114.5 in the
second quarter of 2018, from 111.5 in the same quarter of 2017. On the
other hand, the inflation rate decelerated by 1.3 percent, from 4
percent in the second quarter of 2017 to 2.7 percent in the second
quarter of 2018.
A great influx of investment pledges was recorded this period as the total approved
foreign investments spiked to 2.7 billion marking a two-fold increase from 782 million
recorded in the same quarter of the previous year.
The overall inflation rate slightly accelerated to 2.7 percent in the second
quarter, up 0.4 percentage points from 2.3 percent in the first quarter but still
slower compared to 3.7 percent inflation posted in same period of 2017.
Alcoholic beverages and tobacco index registered the highest inflation rate of
12.2 percent among the commodity groups which is 5.1 percentage points
higher than that of the second quarter 2017. Notable price increases were also
observed in the food and non-alcoholic beverages, recreation and
transportation indices (Table 1.).
For the period January to June 2018 (Figure 1.), the region consistently sustained
an inflation rate below the national average. The increasing level of prices may
be attributed to the surge in global oil prices, weakening of the peso, and tight
supply of local commodities such as rice and vegetables.
1.0
0.0
Jan Feb Mar Apr May Jun
Central Luzon Philippines
Source: Philippine Statistics Authority
2017 2018
REGION/
2nd 3rd 4th 1st 2nd
PROVINCE
Quarter Quarter Quarter Quarter Quarter
CENTRAL
LUZON 3.7 2.8 2.0 2.2 2.7
Aurora 4.5 5.5 5.0 4.2 5.0
Bataan 3.2 2.4 2.2 2.1 2.1
Bulacan 6.9 3.9 2.3 1.1 1.5
Nueva Ecija 0.8 1.5 1.1 1.7 2.7
Pampanga 2.4 2.0 1.8 2.6 2.8
Tarlac 2.0 2.3 1.9 3.5 5.0
Zambales 3.4 3.3 3.4 3.8 4.5
Source: Philippine Statistics Authority
6
5 5
5 4.5 4.5
4 3.7
3.2 3.4
2.7 2.8
3 2.7 2.4
2.1
2 1.5
2
0.8
1
0
Central Luzon Aurora Bataan Bulacan Nueva Ecija Pampanga Tarlac Zambales
2017 2018
The labor market situation in April 2018 showed showed mixed performance.
(Table 3.) A quarter-to-quarter comparison showed that the employment rate
increased from 93.3 percent to 94.6 percent. This entailed a 1.3 percentage
point reduction on the unemployment rate, from 6.7 percent to 5.4 percent.
The underemployment rate, however, increased from 9.7 percent to 13.7
percent which may mean that employees decide to extend their working
hours and/or have additional jobs to earn extra income to cope with the
increasing prices of commodities in the local market.
2017 2018
Indicator April July October January AprilP
Population 15 years 7,719 7,794 7,849 7,853 7,810
and Over (‘000)
Labor Force (‘000) 4,433 4,719 4,614 4,769 4,704
Employed (‘000) 4,135 4,385 4,338 4,511 4,451
Unemployed (‘000) 298 335 276 257 253
Underemployed 401 451 435 517 612
(‘000)
Labor Force 57.4 60.5 58.8 60.7 60.2
Participation Rate
Employment Rate 93.3 92.9 94.0 94.6 94.6
Unemployment Rate 6.7 7.1 6.0 5.4 5.4
Underemployment 9.7 10.3 10.0 11.5 13.8
Rate
` PPreliminary Data
Source: Philippine Statistics Authority – Labor Force Survey
Central Luzon remains the top Figure 3. Second Quarter 2018 Palay
contributor of palay in the country Share per Region (Top 5)
for this quarter. The 1,128,907 (Source: PSA - Countrystat)
Corn production also increased by 2.62 percent this quarter, from 119, 195 MT
to 122, 317 MT. The 4.9 percent increase in Tarlac, the top contributor of corn in
the region with a 34.58 percent share, was enough to make up for the decline
in production recorded in Aurora and Nueva Ecija.
The total inventory of livestock this quarter increased by 8.6 percent, from
100,690 MT to 109,392 MT (Table 6.). According to the PSA report, the sustained
demand of hog triggered the increase in production this quarter. On the other
hand, the decline in goat production was attributable to the lower marketable
stocks of goat as well as the reported drop in the local demand of chevon.
The total poultry production also increased from 198,690 MT to 208,135 MT this
quarter (Table 6.). All poultry commodities except for Duck recorded increases.
PSA reported that the expansion of broiler farm capacity, resumption of farm
operations, and improvement of farm facilities and opening of new
commercial broiler farms in Central Luzon contributed to the increase in
chicken production. PSA also noted that the better egg-laying efficiency and
expansion of layer commercial farms help improve chicken egg production.
The decline in duck production on the other hand could be attributed to the
closure of some duck farms in the region.
Fisheries
PSA also reported that Central Luzon is the third highest recipient of investments
next to National Capital Region (NCR) and CALABARZON. The region hauled
PhP 4.3 billion worth of investments which is 13.9 percent of the national total
of PhP30.9 billion this quarter.
Among the investment promotion agencies located in the region, Subic Bay
Metropolitan Authority (SBMA) managed to have more investment pledges
amounting to PhP 657.6 million, almost ten times its PhP 62.4 million total from
the same quarter in 2017 (Table 8). The Clark Development Corporation also
got higher influx of investments recording investment pledges worth 2 billion
which is almost four times the pledges it recorded during the second quarter of
2017.