NZ residential building activity dips in second quarter, led by Canterbury

Tue, 03 Sep 2013

Sept. 4 (BusinessDesk) – New Zealand residential building activity unexpectedly fell in the second quarter, led by a drop-off in Canterbury from a high level as that region continues its rebuild after the earthquakes. Residential building activity fell 1.8 percent, on an inflation and seasonally adjusted basis, to $1.07 billion in the second quarter, according to Statistics New Zealand. That’s the first decline since the first quarter of 2012, when activity dropped 2.9 percent. Non-residential activity rose 1.4 percent to $934 million for a...

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