click here Real Estate Market Report_3Q11 by Collier International
Executive Summary
ECO NOMY
The Philippine economy grew by 3.4% this quarter. A major contributor to the growth was
consumer spending which increased by 9.9%, although capital formation through construction
dropped by 4.9%. Despite the global economic uncertainties, the Philippine economy is still
expected to be resilient. Drivers to growth are continually drawn in the OFW remittances which
grew by 6.3% in July to US$1.75 billion; and the BPO sector which is expected to gain US$11
billion in revenues by year-end.
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