Construction activity slows further in October

The decline in construction activity continued in October 2014, according to data released on Friday by the Hellenic Statistical Authority (ELSTAT).

Building permits declined by 19 percent year-on-year to 1,269, corresponding to 243,100 square meters of surface area (down 13 percent) and to 1,065,500 cubic meters of volume (down 6.5 percent).

In the first 10 months of last year permits declined by 18 percent from the same period in 2013, while the surface area covered shrank by 14.1 percent and the volume by 6.7 percent, bringing construction activity to historic lows in Greece, according to comparative data.