ECONOMY

Drop continues in construction activity

Construction activity in 2010 continued to slow in Greece, data published on Monday by the Hellenic Statistical Authority showed.

The figures point to a 20.9 percent drop in the volume of new buildings and a 17.3 percent reduction in surface area in October 2010 compared with the same month in 2009.

There was also a 6.2 percent decline in the number of new building permits.

Activity in 2010 is likely to be the lowest in the last decade, attributed to the great drop in demand.