Greek construction shrinks for sixth year in 2011
Building volume has shrunk 77 pct from its peak in 2005 By Harry Papachristou ATHENS, March 29 - Greek construction shrank for a sixth consecutive year in 2011 and is unlikely to recover in 2012, hit by a tax onslaught and an investment slump caused by EU/IMF-imposed austerity policies, statistics service data showed on Thursday.
The volume of construction work, unadjusted series, fell by 29.3% in August, compared to the same month of 2008 and the decline in the first eight months stood at 13.3%, drops being registered in all the structure elements, according to data from the National Institute of Statistics.