Construction Activity Slows in January

Construction activity slowed at the start of the year as approved building permits dropped by 14.6 percent in January, according to the Philippine Statistics Authority (PSA).

- — Louella Desiderio

Preliminary data showed that the number of construction projects from approved building permits went down to 12,526 in January from 14,665 in the same month last year.

While the number of approved building permits declined, the value of the projects rose by 26 percent to P48.58 billion from P38.52 billion.

By type of construction, residential buildings accounted for the biggest share of approved building permits at 61.2 percent.