NZ building work for Q1 +5.3% q/q (expected +1.0%)

New Zealand 'Value of Building Work Put in Place' data for Q1

Total volume of building work rose 5.3 percent (seasonally adjusted) from the previous quarter

• +5.5 percent for residential buildings
• +5.0 percent for non-residential buildings

Biggest Q1 rise for 2 years

NZD up a few tics; this data point not too much of an FX market mover

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