New Zealand's Q1 building activity declined 4%, with residential construction down 4.8% and non-residential work down 2.8%.
New Zealand's building activity declined 4% in Q1, with the volume of building work falling to 8.3 billion NZD ($5.14B) in the March 2024 quarter. Residential construction saw a 4.8% drop to 5.2 billion NZD ($3.22B), while non-residential building work fell 2.8% to 3 billion NZD ($1.86B). This marks the lowest quarterly volume of building work in the past two years, according to Stats NZ.
June 05, 2024
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