ECONOMY

Furniture output declines on demand drop

Greek furniture production has seen a big drop, according to data released by the Hellenic Statistical Authority, as the output volume declined by 19.2 percent in the first seven months of this year compared to the same period in 2010.

The decline was greater than that recorded in the first seven months of last year (14.3 percent) compared to 2009, while production volume shrank by 48 percent compared to the equivalent period of 2005.

The smallest drop was registered in mattress production (just 6.5 percent) and the biggest in metal chair manufacturing (36.2 percent).

The decline is attributed to the decline in domestic demand as companies and households continue to cut down on spending.