Colombian authorities in October approved permits for construction on 13% less area than in the same month of 2008, according to government figures.
Permits covering 1.19 million square meters were issued in October, the National Statistics Department, or DANE, said Tuesday. The area covered for housing purposes fell 14.9% from October 2008, while the area covered by non-housing permits fell 7.9%.
Construction licenses issued in the 12 months through October covered 13.37 million square meters, 24.1% less than in the 12-month period through October 2008.
In the first 10 months of the year, the area covered by construction licenses declined 25% from the same period in 2008. (Dow Jones)