Greek Construction Suffers Major Decline

March 31, 2015
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An analysis by the Foundation for Economic and Industrial Research (IOBE) revealed that Greek construction has experienced a major downfall.

Construction in the nation has one of the largest declines among business endeavors. The study determined that construction projects have dipped up to 80% since 2008. Of this percent, over a third of the economic reduction between 2008 to 2013 in the nation, relates to an investment decrease in the sector.

Construction jobs have decreased by approximately 50% in the last five years. In 2013, 287,000 individuals were employed in the field, while in 2008, 589,000 workers were active, as reported by Kathimerini from the study.

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