(RTTNews) - Tuesday, a report by Statistics New Zealand said the seasonally adjusted volume of residential building work done dropped 6.5% in the second quarter to NZ$935 million, the lowest volume since the September 2001 quarter.

At the same time, the volume of non-residential building work done dropped 2.5% to NZ$941 million.

The statistical office said for the first time since the series began in 1989, the volume of residential buildings fell below the volume of non-residential building work done. The volume of residential building work is usually 20% higher than the non-residential work, Statistics New Zealand said.

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Posted in Categories: Economy, New Zealand, Releases.

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