Building activity shrinks most since 2011

Mon, 08 Jun 2020

Building activity started slowing down in the lead-up to the covid-19 national lockdown, with the value of building work put in place down a seasonally adjusted 5.7 percent in the March quarter. That was the biggest quarterly decline since the March quarter in 2011, a period when Christchurch was reeling from successive earthquakes that leveled much of the city. Stats NZ acting building statistics manager Dave Adair said the decline was partly due to the lockdown, but also included seasonal affects and higher construction costs. ...

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