GCF grew by 22.0 percent in the third quarter of 2021. This was a rebound from a decline of -39.5 percent in the same period the previous year.
Construction grew by 23.8 percent. General government and Households and NPISHs1 both recorded positive growth with 55.3 percent and 62.6 percent, respectively. On the other hand, Financial and non-financial corporations posted a decline of -12.2 percent.
Likewise, Durable equipment and Intellectual property products both recorded growth of 8.0 percent and 21.1 percent, respectively. On the other hand, Breeding stocks and orchard development and Valuables both declined by -2.2 percent -34.1 percent, respectively.
Changes in inventories posted withdrawals of Php 28.9 billion during the period.
Figure 7. Gross capital formation, Q1 2019 to Q3 2021 Growth Rates,
At constant 2018 prices
1NPISHs – Non-profit institutions serving households