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The National Construction Pipeline 2020 report forecasts a big drop in construction in the next two years with residential builders hardest hit.
Construction work is forecast to shrink back to levels similar to the Global Financial Crisis due to the impact of Covid-19, but there are doubts in the sector it will get that bad. The National Construction Pipeline Report 2020 has been released and it forecasts a multi-billion dollar drop in construction work over the next two years due to the impact of the pandemic, including a more than 40 per cent drop in dwelling consents. It was commissioned by the Ministry of Business Employment and Innovation (MBIE) and jointly prepared by BRANZ (Building Research Association of New Zealand) and Pacifecon NZ.