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Gross Fixed Capital Formation 1st Quarter 2023

Gross Fixed Capital Formation as a percentage of GDP edged slightly higher in the 1st quarter of 2023 to 14.9 percent from 14.8 percent the previous quarter. Against a GDP growth of 0.4 percent q-q in Q1, total fixed investment increased by 1.4  percent q-q, supported by higher levels of investment by the government (up 7.0 percent q-q) the private sector (0.2 percent q-q), and investment by public corporations, up 0.8 percent. Residential investment growth turned positive, up 1.5 percent q-q, with a 4.6 percent increase in non-residential investment. Construction works ended flat, up just 0.2 percent, bringing the overall increase in construction investment (seasonally adjusted prices) to 1.3 percent q-q or 6.4 percent y-y.

For a quarterly update of GFCF, GDP and Construction data in current and constant prices, including seasonally adjusted values, please refer to the attachment.

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