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(CEP News) - Building approvals in New Zealand fell in March following an increase in February, Statistics New Zealand reported.
On a seasonally-adjusted basis, March saw 1,091 approvals including apartments, a 4.6% month-over-month decrease, according to Statistics New Zealand on Thursday (Wednesday night EST). In February, approvals rose 12%. Excluding apartments, the seasonally-adjusted number of new building approvals fell 1.3% in March 2009, after rising 0.2% in February. For the year ended March 2009, residential building consents valued at $5.6 billion were issued, a 26% decrease from the March 2008 year. By Stephen Huebl,
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