Building work value keeps expanding

The value of total building work, with price changes removed, has continued an upward trend for a second quarter, after three quarters of decline.

Data issued yesterday by Statistics New Zealand showed the value of all building work rose a seasonally adjusted 3.9 per cent in the March quarter, after a rise of 2.7 per cent in the December quarter.

After removing price changes, the March quarter showed a seasonally adjusted rise of 2.5 per cent. The unadjusted value for building work in the March 2007 quarter was $3 billion, down $3 million or 0.1 per cent, from the March 2006 quarter.