The number of construction activities declined by almost two-thirds during the second quarter when 75 percent of the country was placed under the most stringent COVID-19 lockdown in the region.
In a report, the Philippine Statistics Authority (PSA) said construction projects from April to June nationwide dropped by 65.5 percent to 16,004 from 46,453 during the same three months last year.
In terms of floor area, 2.5 million square meters started construction in the second quarter, down 77.2 percent from the about 11 million sqm a year ago.
The value of construction activities fell by a faster 81.2 percent as the P25.02 billion worth of projects was dwarfed by the P132.89 billion…
Keep on reading: PSA reports slump in Q2 construction projects