Building activity up in December quarter
The seasonally adjusted volume of building activity rose 1.1 percent in the December quarter, compared to the three months to September, Statistics New Zealand (SNZ) says.
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The seasonally adjusted volume of building activity rose 1.1 percent in the December quarter, compared to the three months to September, Statistics New Zealand (SNZ) says.
The overall volume increase included a 10.6 percent rise in non-residential building work and a 7.1 percent fall in residential work.
The rise in the volume of non-residential building work was the fourth in a row, and took it above the volume of residential building work for only the second time since the series began in 1989, SNZ said today.
The seasonally adjusted value of residential building work fell 7.1 percent, while the value of non-residential work lifted 11 percent, and the value of all work rose 0.6 percent.
Unadjusted, the value of residential building activity in the December quarter was 3.1 percent lower than a year earlier at $1.51 billion, while the value of non-residential building gained 18.8 percent to $1.34 billion, and for all buildings it was up 6.1 percent to $2.85 billion.
For the year to December, residential building activity was 6.5 percent up on a year earlier to $6.26b, non-residential work fell 1.6 percent to $4.82b, while the total value of all building work was up 2.8 percent to $11.08b.
NZPA
Tue, 08 Mar 2011
Tue, 08 Mar 2011
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Building activity up in December quarter
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