Construction shows signs of sustained recovery

Construction showed signs of recovery in May, as the number of building permits shot up 7.4 percent, according to independent statistics agency ELSTAT.
Specifically, 1,453 building permits were issued in May, for an area totaling 268,900 square meters.

Area-wise, new construction is 5.7 percent down from May 2018, and, for the first five months of 2019, is 13.3 percent less than the same period in 2018.

Nonetheless, experts in the sector view the numbers positively, saying 2018 was a rebound year from very low levels in the years since the financial crisis hit Greece. The current numbers show that the rebound in 2018 was not a one-off and that the sector's recovery can be sustained.
The same stabilization at levels higher than in previous years is seen in construction materials. Cement group Titan, which published its half-year results a few days ago, said...