September Building Consents (also known as Building Permits) -12.2% m/m

  • expected +1.0%,
  • prior was flat at 0.0% m/m (while the trend is strong, the rate of growth is slowing)

–

Yuck … NZD down a few pips on the announcement

Comment from Statistics New Zealand:

  • “The trend for new dwellings was previously at its highest level since August 2007. While it’s now easing, the trend is still about 10 percent higher than at the same time last year,” business indicators manager Neil Kelly said.
  • In September 2014, the seasonally adjusted number of new dwellings consented decreased by 12 percent. Excluding apartments, this number fell by 10 percent.
NZ building consents permits 31 October 2014