Building activity up in January

Greek construction activity rose nearly 13 percent in January in growth that could continue in the coming months as the sector recovers some of the ground lost in last year’s slump, according to the Hellenic Statistical Authority (ELSTAT). Activity, measured by the number of new building permits, rose 12.9 percent year-on-year in January after a 2.8 percent drop in December. ELSTAT said 4,329 new permits were issued nationwide in January, corresponding to 1.2 million square meters, versus 3,835 permits in the same month a year earlier, covering 0.87 million square meters. Construction accounts for about 7 percent of Greece’s annual economic output.

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