Philippines: Construction Permits Down 7% in April, Value Up Double-Digits
Approved building permits in the Philippines fell 7% year-on-year to 13,677 in April. However, the total value of construction projects saw a double-digit increase of 11% to P47.42 billion. Experts attribute the decline in permit numbers and floor area to higher interest rates and rising fuel costs stemming from Middle East conflicts, which have increased construction material costs and dampened demand.
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