Greece Construction Output Shrinks for 1st Time in 4 Years

Construction output in Greece declined by 3.5% year-on-year in the first quarter of 2025, reversing a 23.6% growth in the previous quarter.

This marked the first contraction since the first quarter of 2021, dragged by lower output in civil engineering (-9.9% vs 38.7% in Q4) and specialized construction (-4% vs 11.7%).

At the same time, growth in building construction decelerated sharply (4.8% vs 18.9%).

On a quarterly basis, construction output plunged by 50.9% in the March quarter, marking a sharp reversal from a 52% expansion in the preceding period.