Greece’s building activity remained in deep red for August

EconomyMacroeconomy Tags: Construction, ELSTAT
Photo by Harry van Versendaal
Photo by Harry van Versendaal

Greek building activity (measured by the number of building permits) dropped by 10.5 percent in August with the respective surface figure easing 21.1 percent, while volume retreated 31.0 percent, according to the Hellenic Statistical Authority (ELSTAT).

Moving to the aggregate figures, which strip out the apparent monthly volatility, it is clear that building activity remains in the deep red by any measure. In particular, the twelve-month trailing average indicates that building permits, surface and vo...

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