Investment in construction up 3% in Q3
Investment in construction increased by 3% in the third quarter of the year by 3% according to statistics released by Portuguese construction association AICCOPN.
Gross Added Value also grew by 3.1% in like for like terms on 2022. In the third quarter of 2022 the percentages had been 1.5% and 2.5% respectively.
As for labour market sector indicators, the percentage of workers employed by developers and builders in the construction sector increased by 8.1% by the end of September to around 346,000, which was the highest number posted since the 2nd quarter of 2012.
In the third quarter of the year, according to Quarterly National Accounts, there was a slowdown in the Portuguese economy with GDP up 1.9% in like for like terms but less than the 2.6% in Q2 of 2023.
Between January and September there were variations of -0.4% in licenced residential building areas and -10.1% in the total number of licences issued but +4.7% in the number of licenced homes for new build developments.
According to AICCOPN the main indicators in the civil engineering segment saw significant growth in the first 10 months of the current year. In effect, there were variations of 73.4% to October in like-for-like terms in the amount of tenders for public competitions and 33% in the amount of building contracts signed and registered in terms of the comparable like-for-like variation.