Construction Market Quarterly Update contains data from First Quarter of 2023, in which the Philippine Gross Domestic Product (GDP) posted a growth of 6.4 percent.
Among the major economic sectors, Agriculture, Forestry and Fishing, Industry and Services all posted positive growths in the First Quarter of 2023.
The Construction Industry recorded a slower growth of 10.8 percent during the period, compared to the percent of growth in the previous year. Private Construction, which accounted for 20.6 percent to total construction investments, decreased by 7.0 percent.
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