Heather du Plessis-Allan

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.

That's Carl Taylor, CEO of the Combined Building Supplies Co-op.

I'll give you some of the numbers.

Social housing has actually registered the biggest fall in construction.

That's down 37%.

You'd probably sheet that to the NGOs and the government.

Retail building down 22%.

Farm and storage buildings, only ones to go up, got a lift in the value of the work from the year ago.

Outside of residential work, the only region to see an increase in the value was the South Island, and that's excluding Canterbury.

Largest falls recorded in Wellington, 22%, Auckland, 18% down.