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Building Activity Flat In June Quarter
The seasonally adjusted volume of building activity was $8.9 billion in the June 2023 quarter, down 0.1 percent compared with the March 2023 quarter, according to figures released by Stat NZ today.
The volume of residential building work was down 2.0 percent to $5.8 billion, while non-residential building work was up 3.7 percent to $3.1 billion over the same period.
“The June 2023 quarter marked the third quarter in a row where the volume of building work has fallen for residential buildings but risen for non-residential buildings,” construction statistics manager Michael Heslop said.
“These contrasting movements led to overall building activity in the June 2023 quarter being relatively flat.”
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