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Value of Building Work Put in Place: March 2004 Q.

26 August 2004

Value of Building Work Put in Place: March 2004 quarter

An error in processing has resulted in the publication of incorrect figures in the Value of Building Work Put in Place information release issued on 4 June 2004. The error affects all figures relating to the March 2004 quarter.

The value of residential building work put in place in the March 2004 quarter has been revised downward from $1,687 million to $1,561 million. The value of non-residential building work put in place has been revised downward from $817 million to $799 million, while the value of all building work put in place has been revised downward from $2,504 million to $2,359 million.

The seasonally adjusted series, trend series, and values at constant prices have also been revised. All revised figures are indicated by an R in the attached tables.

The Value of Building Work Put in Place survey statistics are the key data source used to estimate economic activity in the construction industry, a component of Quarterly Gross Domestic Product (QGDP). The revisions to the Value of Building Work Put in Place are estimated to result in a downward revision of 0.2 percent in the published QGDP series for the March 2004 quarter (ie the published 2.3 percent movement in QGDP for the March 2004 quarter compared with the previous quarter would be revised down to 2.1 percent). The impact on components of the QGDP series that are affected by the revision are available on request.

Statistics New Zealand regrets any inconvenience this error may have caused users.

Ian Ewing

Acting Government Statistician

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