ECONOMY

Construction continues to slow

Construction activity slumped last year as Hellenic Statistical Authority data show a 28.8 percent drop in the number of building permits issued compared to 2010, falling to 35,746.

The total surface area contracted 42 percent and volume fell 38.2 percent.

The total drop in volume since 2007 amounted to 72.4 percent.

The last time that a rise was posted was in 2006.

Worse, demand in the first few months of this year appears even more anemic, market sources say.