New Zealand June Building Consents/Permits: +3.5% m/m (vs. +1.0% expected)

New Zealand June Building Consents/Permits: +3.5% m/m

• prior was -4.6% m/m
• expected +1.0%

–

• The trend for the number of new dwellings consented is at its highest level since August 2007
• “The trend for new dwellings has doubled since March 2011, but is still 26 percent below the series peak in January 2004,” business indicators manager Neil Kelly said.
• In June 2014, the seasonally adjusted number of new dwellings consented rose 3.5 percent (or 2.9 percent when apartments are excluded)

–

NZD not doing a lot after yesterday’s milk shake.