Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Higher Building Prices Drive Up CGPI

Embargoed until 10:45am – 14 November 2006

Higher Building Prices Drive Up CGPI

The Capital Goods Price Index (CGPI) rose 1.3 percent in the September 2006 quarter, the fourteenth consecutive quarterly rise in the CGPI, Statistics New Zealand said today. All six asset groups in the CGPI recorded increases in the September 2006 quarter.

The residential buildings index rose 1.7 percent in the September 2006 quarter, making the most significant upward contribution to the CGPI for the twentieth consecutive quarter. The increase in the residential buildings index in the September 2006 quarter was mainly driven by the construction of new houses. In the year to the September 2006 quarter, the index rose 5.7 percent.

The second most significant contribution to the CGPI was the non-residential buildings index, which rose 1.9 percent in the September 2006 quarter. The main drivers for the price increases in the September 2006 quarter were higher construction services costs for commercial buildings. In the year to the September 2006 quarter, the non-residential buildings index rose 6.0 percent.

Annually, in the year to the September 2006 quarter, the CGPI rose 4.0 percent, the highest annual increase since the September 2004 quarter. This follows a rise of 3.0 percent in the year to the September 2005 quarter.

Brian Pink
Government Statistician

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news