The Total Building Activity (private and public) in Greece, in May 2024, based on the issued building permits, amounted to 2,065.
This is an increase of 4.3% compared with the second quarter of 2023 when the respective turnover was 17.37 billion euros
Month-over-month, the General Index rose by 2.1% in June 2024 compared to May 2024, a notable jump from the 0.5% increase recorded in the same period of the previous year.
Food items continue to experience the largest annual changes, with olive oil surging by 56.7%, cereals up by 7.4%, fresh fish increasing by 8.4%, and mineral water/soft drinks rising by 8.6%.
The unemployed population dropped to 456,663, showing a significant decrease of 85,865 from June 2023 (-15.8%) and a reduction of 30,629 from May 2024 (-6.3%).
Focusing on Private Construction Activity during this period, there was a 41.8% increase in building permits nationwide, a 40.2% rise in the area, and a 26.8% expansion in volume
This contrasts with a 12.5% decrease observed in May 2023 compared to May 2022.
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
The same price index had decreased 20.8% from May 2022 to May 2023
The drop in gross tonnage is for vessels 100 GRT and over, and is a continuation of the overall downward trend since January 2022
The average overall Industrial Production Index for the period from January to May 2024 recorded an increase of 5.8% compared with the average IPI of the period from January to May 2023.
Signs of reduced consumption were recorded in April, as it appears that ongoing and widespread inflation has created conditions for a downturn in retail.
The building permits for the Private Building Activity issued in Greece in March 2024 amounted to 3,728, corresponding to 864,988 m2 of surface and 3,248,483 m3 of volume
Meanwhile, the Production Index in Construction (IPC) in the 1st quarter of 2024 recorded an increase of 5.0%
The 15.7% surge in April 2024's output price index is primarily attributed to a substantial 23.7% hike in the crop output group, driven mainly by the price increases in olive oil and fruits.
Looking at the broader picture, the average index for the period from January to April 2024 showed a solid 5.3% rise compared to the same period in 2023.
Export values reached 4.467 billion euros, up from 4.019 billion euros in April 2023, marking an 11.1% rise.
Unemployment rates are highest among women, young people up to 24 years old, residents of the Ionian Islands, and those with only a few years of primary education.
The capacity fell by 3.5% in March 2024 compared to the same month in 2023.