Constructions down sharply despite better economy

March 16, 2018

SOURCE: HELLENIC STATISTICAL AUTHORITY

 

 

Construction activity in Greece fell sharply in the last quarter of 2017 as the sector struggles to get back on its feet despite improving economic conditions in the country, data from the statistics office showed Friday.

 

The Hellenic Statistical Authority said that Greece's construction productions index fell by an annual pace of 21.5 percent between October to December last year versus a drop of 31.7 percent in the previous quarter. For the year, it fell 14.6 percent versus a rise of 23 percent in 2016. 

 

The index measures the production of building construction and the production of civil engineering sectors.

 

Greece's economy grew by 1.4 percent last year, only the second time in a decade of crisis the country managed to record any economic growth.

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