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Slight Rise In Building Activity In March Quarter
The seasonally adjusted volume of total building activity was $9.1 billion in the March 2023 quarter, up 0.6 percent compared with the December 2022 quarter, according to figures released by Stats NZ today.
The volume of residential building work was down 0.8 percent to $6.1 billion in the March 2023 quarter, while non-residential building work was up 3.6 percent to $3 billion over the same period.
“The March 2023 quarter marked the second quarter in a row where we have seen a fall in the volume of residential building work,” construction statistics manager Michael Heslop said.
“The volume of non-residential building work, on the other hand, has seen four consecutive quarters of growth.”
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