PSA reports slump in Q2 construction projects

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 reported a year ago.

Construction of new residential units accounted for the bulk of the number of projects at 12,004 projects totaling over 1.29 million sqm in floor area, worth P12.49 billion.

Nonresidential projects built from April to June, meanwhile, numbered 2,265 with total floor area of almost 1.2 million sqm amounting to P11.91 billion.

The PSA’s construction statistics, which included addition, alteration and repair of existing units, were based on approved building permits all over the country.

To recall, the government imposed an enhanced community quarantine in areas with high COVID-19 cases from mid-March to May, restricting movement of people and nonessential goods in a bid to contain the spread of the deadly coronavirus. —BEN O. DE VERA