New Zealand’s Sputtering Economy Highlighted by Concrete Slump
- Production hits nine-year low in 12 months through September
- Construction firms are pessimistic as building approvals fall
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New Zealand’s concrete production slipped to the lowest level in nine years, highlighting a construction slowdown in a sputtering economy.
Output fell 9.3% to 3.88 million cubic meters in the 12 months through September, Statistics New Zealand said Tuesday in Wellington. That’s the weakest annual reading since the third quarter of 2015.