The volume of residential building work done in New Zealand dropped 23.1% year-on-year in the third quarter compared to the 24.8% decline in the previous quarter, Statistics New Zealand reported on Tuesday. On a quarterly basis, residential building work fell 5.4%, the eighth consecutive quarterly fall.
The volume of non-residential building work done slumped 10.3% annually in the third quarter compared to the 2.1% rise in the previous quarter.
At the same time, total building work done dipped 17.6% on year, faster than the 14.1% slide in the prior quarter. On a sequential basis, all building work done dropped 4.9%, the seventh successive quarterly fall.
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