Building Construction Activity Steady

Value of Building Work Put in Place: March 2002 quarter

Building Construction Activity Steady

The value of all building work put in place was $1,650.3 million in the March 2002 quarter, according to Statistics New Zealand. The trend series for the value of all building work put in place has shown little change since the December 2001 quarter, up 0.6 percent. This number reflects an increase in the work put in place for residential buildings, partially offset by a decrease in non-residential building work. The trend has been increasing since the March 2001 quarter.

Due to the volatility in building data in recent quarters, changes in the value of building work put in place should be interpreted with caution, especially in regard to the seasonally adjusted and trend series.

The actual value of all building work put in place for the year ended March 2002 was $7,171.4 million, which was a 6.7 percent increase on the year ended March 2001.

The value of work put in place for residential buildings was $936.5 million in the March 2002 quarter. There has been a 1.5 percent increase in the trend series for residential building work from the December 2001 quarter.

The actual value of residential building work put in place for the year ended March 2002 was $4,038.4 million, which was a 2.4 percent increase on the year ended March 2001.

The value of non-residential building work put in place was $713.8 million in the March 2002 quarter. The non-residential building work trend series has decreased by 0.6 percent from the December 2001 quarter.

The actual value of non-residential building work put in place for the year ended March 2002 was $3,132.9 million, which was a 12.9 percent increase on the year ended March 2001.

Brian Pink Government Statistician END

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