Non-residential building activity slows
The volume of non-residential building work fell in the June 2019 quarter compared with the March quarter, Stats NZ said today.
Non-residential building activity volume fell 3.4 percent, after accounting for typical seasonal patterns and higher construction costs. This followed an 8.2 percent rise in the March quarter, which was the largest growth in five years.
“Although the value of building work put in place continued to grow this quarter, the volume of activity failed to keep up with previous seasonal increases, especially after a very strong March quarter,” construction statistics manager Melissa McKenzie said.
The total volume of building activity fell 1.5 percent in the June 2019 quarter, driven by slowing non-residential construction activity. Residential building activity fell slightly (down 0.2 percent).
The total volume of building activity
remains at historically high levels and the trend has been
generally increasing for the past two