RBNZ sees pressures building in Auckland construction sector

Thu, 10 Nov 2016

By Paul McBeth Nov. 10 (BusinessDesk) - The Reserve Bank is wary of emerging pressures in the construction sector, saying local building firms may not have the capacity to cope with an increased workload in Auckland. Central bank officials met with 20 construction companies as part of its preparation for today's monetary policy statement, which noted "a sense of hesitation among construction firms to expand rapidly in Auckland given uncertainties around the outlook". The country's biggest city has a shortage of housing to cater to a rapi...

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