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

Wed, 04 Sep 2019

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...

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