New Zealand Building Permits for May: +35.6% m/m (prior -6.5%)
NZ COVID-19 lockdown impacted data, a big jump from previous drops
Stats NZ also warn:
- "Building consent numbers are more uncertain at the moment, coming from many underlying factors, as well as the effects of COVID-19 and the implications councils may have faced due to the lockdown in April"
- "This month's statistics can also include consents submitted several weeks or months before, so the true effects of COVID-19 may only be seen several months down the line."
Strong headline number headline though - its the largest monthly change since February 1972