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New Zealand Volume Of All Buildings Falls 1.5% In Q2

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New Zealand Volume Of All Buildings Falls 1.5% In Q2

The total volume of building activity in New Zealand was down a seasonally adjusted 1.5 percent on quarter in the second quarter of 2019, Statistics New Zealand said on Thursday.

That missed expectations for an increase of 1.3 percent and was down sharply from the 6.2 percent jump in the three months prior.

Non-residential building activity volume fell 3.4 percent on quarter, after accounting for typical seasonal patterns and higher construction costs. This followed an 8.2 percent rise in the March quarter, which was the largest growth in five years.

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