Greek construction plunges in Feb
Poor old Greece is still suffering growth problems as building permits fall 45.3% compared to a year earlier.
The stats service ELSTAT said that construction volumes were also down 34.7% y/y
Greece is in it’s 6th year of recession and the construction sector has taken the brunt of austerity measures. The figures make Schaeubles comments last week,that Greece was on the mend, rather flimsy.
Growth is expected to shrink to 4.2-4.5% this year.
