Total construction activity fell by 0.8% in the December quarter, below market forecasts. Underlying the soft headline result was a fall in non-residential construction, which can be lumpy on a quarter-to-quarter basis, according to analysts at Westpac. The overall level of building activity remains elevated. Key quotes “Total construction activity fell by 0.8% in the December quarter. That was lower than the 0.6% rise that we and other analysts had expected.” “The main reason for the softer than expected December quarter result was a 3.6% fall in non-residential construction.” “Today’s result signals some downside risk to our forecast for 0.6% growth in December quarter GDP. We’ll firm up that number as other partial indicators are released over the next week. “We expect to see continued strength in construction activity over 2020. Dwelling consent numbers have been rising rapidly and many parts of the country are wrestling with shortages of housing.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next New Zealand: March and May rate cuts expected – Westpac FX Street 3 years Total construction activity fell by 0.8% in the December quarter, below market forecasts. Underlying the soft headline result was a fall in non-residential construction, which can be lumpy on a quarter-to-quarter basis, according to analysts at Westpac. The overall level of building activity remains elevated. Key quotes “Total construction activity fell by 0.8% in the December quarter. That was lower than the 0.6% rise that we and other analysts had expected.” “The main reason for the softer than expected December quarter result was a 3.6% fall in non-residential construction.” “Today’s result signals some downside risk to our forecast for 0.6%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
