Volume of building activity falls in June qtr; demand seen strong

Volume of building activity falls in June qtr; demand seen strong
Rebecca Howard
By Rebecca Howard Sept. 5 (BusinessDesk) - The volume of building activity fell more than expected in the June quarter but ongoing demand – in particular for residential housing – is expected to support the sector. The total volume of building activity fell 1.5 percent in the June quarter after lifting 5.7 percent in the March quarter, Stats NZ said. Economists polled by Bloomberg had expected a 1.3 percent lift. ASB Bank senior economist Jane Turner lowered her second-quarter gross domestic product forecast to 0.4 percent from 0.6...

More Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024