05.03.202023:35:00UTC+00New Zealand Value Of Building Sinks 0.8% In Q4

The value of all building in New Zealand was down a seasonally adjusted 0.8 percent on quarter in the fourth quarter of 2019, Statistics New Zealand said on Friday.

That was well shy of expectations for an increase of 0.6 percent following the upwardly revised 0.7 percent gain in the three months prior (originally 0.4 percent).

Residential building volume rose a seasonally adjusted 1.2 percent, following a 0.7 percent fall in the September quarter

Non-residential building volume fell a seasonally adjusted 3.6 percent, following a 2.7 percent rise in the September quarter.

In value terms, the actual value of total building work was NZ$6.6 billion in Q4 - up 7.9 percent on year.