That meant an unimpressive showing for non-residential consents over the last nine months.
“Residential consents are still falling, although there are signs of a possible stabilisation later this year, as the annual decline in standalone house consents has moderated in the past few months,” Infometrics said.
There was at least a large amount of non-residential consented work in the pipeline, the economists added.
Nevertheless, Infometrics expected concrete volumes to “continue moderating” over the next two years as construction work eased.
That was especially likely because concrete usage tended to happen early in the construction process, the economists added.
Year-on-year, production of ready-mixed concrete was down 11 per cent.
In seasonally-adjusted terms, the volume of ready-mixed concrete fell 3.7 per cent in the March 2024 quarter, after a 4.9 per cent fall in the December 2023 quarter.
“Most regions continue to struggle, with the largest quarterly decline of 13 per cent occurring in the Waikato/Bay of Plenty region,” Infometrics said.
Volumes in Wellington were at their lowest level since December 2014, as residential consent numbers fell significantly.
“And non-residential work in the area is also slowing substantially as public sector spending and employment come under the spotlight,” Infometrics added.
Gisborne and Hawke’s Bay were up 10 per cent compared to the December quarter and Canterbury was up 2.1 per cent.
In both regions, that increase followed sharp declines in the previous two quarters, Infometrics said.
