Heather du Plessis-Allan

Yeah, excellent.

Hey, Steve, thank you.

It's been great to talk to you.

Good luck with it.

I'm looking forward to see how it goes.

Got new insight into the struggling construction sector.

Infometrics data shows building activity fell 3.5% in the March quarter, which is the lowest level since 2015.

Non-residential activity, which is everything other than houses, obviously, was also down 13% on a year ago, which is the biggest drop since 2010.

Carl Taylor is the CEO of the Combined Building Supplies Co-op and is with us.

Morning, Carl.

Good morning, Heather.

When you look at this data, what do you see?

Do you see, geez, it's bad, or do you see the signs that it's starting to improve?

So would that explain why the guys at Infometrics are saying they haven't yet seen the fuel prices starting to take hold?

This is yet to come.

How do we explain such a massive drop in the retail construction?

It's back 22%.

So is it, I mean, from a client's perspective, is this the time to get in amongst it because the builders will be cheap?

Carl, best of luck with it.

It does sound quite tough out there.