Press Release – Ministry of Business Innovation and Employment
The National Construction Pipeline Report 2020 released today forecasts a short-term decline in construction activity as a result of the COVID-19 pandemic.
The Report commissioned by MBIE provides a projection of national building and construction activity for the next six years, through to 31 December 2025, based on current settings. It includes national and regional breakdowns of actual and forecast residential building, non-residential building and infrastructure activity.
“While there is a lot of uncertainty as a result of the pandemic, the Report expects a decline in the total value of construction through to 2023, before it starts to recover,” says John Sneyd, General Manager Building System Performance, Ministry of Business, Innovation and Employment.