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Trade services index rebounds

15 September 2009

Trade services index rebounds

While Statistics NZ showed last week that NZ house-building and renovation work fell to the lowest level in almost eight years in the second quarter, the latest trade job size index suggests a glimmer of hope for NZ’s tradespeople. After declining monthly since it was first measured in November last year, the index has risen 21% in August from the low point reached in June, growing steadily in July and August, indicating that consumers are again becoming confident to take on larger renovation and construction jobs.

The index, which is based on the cost of trade jobs completed through, suggests that the average size of renovation jobs is again growing, albeit slowly. “Over the last month there has been a marked increased in bathroom and kitchen renovations over $10K, as well a significant increase in the number of new decks been constructed” said director Keith Roberts. “Seasonality may be driving some of this, with the arrival of spring, but it is good to see the trend moving upwards”.

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