Construction projects fall in Q1 – NSO
THE number of construction projects in the country fell in the year’s first quarter, according to a report from the National Statistics Office Monday.
NSO said that the total number of approved building permits in the January to March period was 28, 347, a 5.5-percent decrease from 29,992 construction projects during the same period last year.
The lower number of construction projects was owing to the 11.9-percent slide in the number of total residential construction, which dipped 11.9 percent to 20, 784. On the other hand, non-residential construction for the period grew 17.4 percent to 3,495 from 2,978 during the same quarter of 2010.
Also, the combined approved building permits for additions, alterations and repairs improved 18.7 percent to 4,068.
“Total value of construction during the first quarter of 2011 surged 11.6 percent to P52.8 billion from P47.3 billion recorded during the same quarter of 2010,” the NSO said.
The value of residential construction building rose 32.6 percent to P28.2 billion, while the value of non-residential building construction dropped 13.2 percent to P19.4 billion.
On the other hand, combined value for additions, alterations and repairs estimated at P5.2 billion jumped 39.7 percent from P3.7 billion in the same period last year. (GMA News)