Colombian authorities in September approved permits for construction on 33% less area than in the same month of 2008, according to government figures.
Permits covering 1.20 million square meters were issued in September, the National Statistics Department, or DANE, said Monday. The area covered for housing purposes fell 36% from September 2008, while area of non-housing permits fell 24%.
Construction licenses issued in the 12 months through September covered 13.55 million square meters, 26% less than in the 12-month period through September 2008.
In the first nine months of the year, construction licenses declined 26% from the same period in 2008. (Dow Jones)