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Steady Rise in the Value of Building Work


Steady Rise in the Value of Building Work Put in Place

The value of residential work put in place for the December 2002 quarter was $1,422 million. This compares with $1,358 million in the September 2002 quarter, and $1,112 million in the June 2002 quarter. Since the March 2001 quarter, the trend series for the value of residential building work put in place has been steadily increasing. For the year ended December 2002, the actual value of residential building work put in place was $4,829 million, up $899 million or 23 percent compared with the year ended December 2001.

The value of non-residential building work put in place for the December 2002 quarter was $872 million. The trend series for the value of non-residential building work put in place has been increasing for the last three quarters, after having decreased for two quarters prior to the June 2002 quarter. For the year ended December 2002, the value of non-residential building work put in place was $3,192 million, up $161 million or 5 percent compared with the year ended December 2001.

The value for all building work put in place for the December 2002 quarter was $2,294 million. The trend series for the value for all building construction has steadily increased from the June 2001 quarter, after having decreased for four quarters before this. For the year ended December 2002, the value of all building work put in place was $8,021 million, up $1,060 million or 15 percent compared with the year ended December 2001.

Brian Pink

Government Statistician


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