Coronavirus

Concrete evidence of slowdown, equal to GFC

Brent Melville
Fri, 14 Aug 2020

Concrete use in the June quarter was down by the equivalent of about 22 Auckland Sky Towers, marking the biggest quarterly drop since records began 28 years ago, Stats NZ said. Ready-mix production slumped a seasonally adjusted 23 percent as construction ground to a halt amid the nationwide enforced covid shutdowns during April. That left production at 770,000 cubic metres, compared with more than 1 million cubic metres per quarter for the 15 previous quarters in succession. Stats NZ said the biggest year-on-year hits came in regions with...

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Markets
MARKET CLOSE: Profit taking pulls shares down
Dan Brunskill | Mon, 21 Sep 2020

Profit taking pushed New Zealand’s benchmark stock index more than 500 points below its record as investors found few reasons to buy with a global recession in progress.    The S&P/NZX 50 Index fell 94.42 points, or 0.8 percent, to 11,539.10. Within the index, 34 stocks fell, 11...

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