As a further sign that the economy is slowing, data recently released by the National Statistics Service showed that construction activity, measured by the number of new building permits, fell 15.7 percent in the year-to-October period. According to the data, which measures construction activity in the public and private sectors across Greece, the permits issued in the 10-month period related to 14.23 million square metres, representing an annual drop of almost 17 percent.  

A report from the Foundation for Economic and Industrial Research (IOBE) also showed yesterday that construction companies expect a downturn in the sector’s labour market in the coming three months.