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Slowdown in Building Construction Continues

Value of Building Work Put in Place: March 2001 quarter

Slowdown in Building Construction Continues

After adjusting for normal seasonal fluctuations, the value of all building work decreased by 6.3 per cent in the March 2001 quarter, according to data released today by Statistics New Zealand.

The trend in the total value of building work put in place has been decreasing since the March 2000 quarter. This mainly reflects a decline in residential building work. The seasonally adjusted value of work put in place on residential buildings in the March 2001 quarter was 4.3 per cent lower than in the December 2000 quarter.

The value of work put in place on non-residential buildings in the March 2001 quarter was 8.9 per cent lower than in the December 2000 quarter.

Ian Ewing DEPUTY GOVERNMENT STATISTICIAN END

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