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Non-residential Building Work Falls

8 December 2006

Non-residential Building Work Falls

The value of work put in place on non-residential buildings fell 9.2 percent in the September 2006 quarter (on a seasonally adjusted basis), Statistics New Zealand said today. This follows a fall of 5.0 percent in the June 2006 quarter, but the value remains at a high level. When the impact of price changes is removed, the trend in the value for non-residential building work is falling, after almost three years of real growth.

For residential buildings, the value of work put in place rose 7.0 percent (seasonally adjusted) in the

September 2006 quarter, following a fall of 8.0 percent in the June 2006 quarter. The trend for the value of residential building work is flat for the latest quarter but shows a fall for the latest three quarters if price changes are removed.

The value of all building work put in place in the September 2006 quarter is estimated at $3,321 million, up $59 million (1.8 percent) from the September quarter last year. After removal of price changes, there is a 4.0 percent decrease.

Work on non-residential buildings accounted for 41 percent of the value of all building work put in place in the year ended September 2006, compared with 39 percent for the previous September year.

Brian Pink

Government Statistician

ENDS

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