BUSINESS

Construction was down again in January

Construction activity continued to fall in January, showing that the recovery recorded in October and November 2013 was temporary.

The figures released on Friday by the Hellenic Statistical Authority (ELSTAT) revealed that just 917 building permits were issued the first month of the year, corresponding to 160,900 square meters in surface area and 627,100 cubic meters in volume.

This constitutes a drop of 35.3 percent in the number of permits, 38.2 percent in surface area and 40 percent in volume from the same month in 2013.

Construction activity in Greece has been in constant decline since 2007, with the exception of the two months last fall.

In the 12 months from February 2013 to January 2014, the annual decline amounted to 27.2 percent in permits issued, 28.1 percent in surface area and 26 percent in volume.

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