RICS: NZ construction activity falls for first time since 2020

RICS: NZ construction activity falls for first time since 2020
Private residential construction activity fell in the last quarter of 2022. (Image: Getty)
Staff reporters
Activity in New Zealand’s construction sector has fallen for the first time since the second quarter of 2020, according to the Royal Institution of Chartered Surveyors (RICS).In its market monitor for the last quarter of 2022, construction activity fell sharply to a reading of -12%, down from the +19% reported in the third quarter.That was driven by a fall in residential workloads – private residential fell to a net balance of -35%, from +19% in the third quarter.However, infrastructure workloads remained strongly positive, with +29...

More Economy

ANZ survey: ‘The worst will soon be past’
Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024
The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Holidays Act: no vacation for taxpayers
Economy In-depth

Holidays Act: no vacation for taxpayers

Let's pay billions of dollars and get nothing new for it.

Nikitin Sallee 25 Jul 2024
Recession worries? Blame China's economic flu
Economy

Recession worries? Blame China's economic flu

Treasury's chief economic adviser says China's economic woes are being felt in NZ.

Dileepa Fonseka 25 Jul 2024