The Quarter That Was

Statistics pertaining to the economic situation of Region VIII are out. The data reveal that the economy performed fairly. Palay production was up 3.9 percent comparing the production of the third quarter this year with that of the same quarter last year. Copra production was up 2.8 percent. Both indicate a stable but virtually flat economic situation in rural areas.

Fish production was up 18.2 percent.

Energy sold by electric cooperatives went up by 14.8. This indicates increased economic activities in urban areas.

Inflation was at a low 2.3 percent.

Some other indicators you might be interested in are: subscribed telephone landlines went up 5.9 percent, cell sites increased from 128 to 49 or by 96.4 percent, cable TV subscribers went up by 11.8 percent with considerable increases in Southern Leyte (24.2 percent) and Biliran (23.2 percent).

In short, we are doing fine particularly in the urban areas, despite the political ripples and uncertainties that occurred in the last quarter (July to October).

If we analyze this further, the fair performance in rural areas contrasts with the brisk business in urban areas indicating that money from areas outside the region is fueling economic growth. This would imply that a significant number of overseas workers are pumping dollars and other foreign currencies into our region.

A quarter like the last one is encouraging in view of the negative opinion some would have on the state of our economy.

Things are not as bad, not at all.