Construction Market Quarterly Update contains data from Third Quarter of 2022, which Philippine GDP posted a growth of 7.6 percent. Major economic sectors are Agriculture, Forestry and Fishing, Insurance Activities and Services.
The Construction industry grew by 11.8 percent in the third quarter 2022. The growth continues to increase driven by the Private Construction, which accounted for 16.5 percent of the total investments.
According to the preliminary data released by the Philippine Statistics Authority (PSA), indicates an annual increase of 7.1 percent. Total number of constructions reached 40,384 in the third quarter of 2022 compared to 37,704 recorded in the same period in 2021.
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