New Zealand Concrete Output Shows Pre-Conflict Building Recovery

New Zealand’s concrete production increased for the third straight quarter, suggesting construction was recovering before the negative impact of the Middle East conflict on costs and confidence.

Production rose a seasonally adjusted 1.1% in the first quarter from the previous three months, Statistics New Zealand said Tuesday in Wellington. Output in the second quarter last year was the lowest in 11 years apart from a single period in 2020 during the Covid lockdown.