New Zealand Building Approvals for June: -7.6% m/m (prior +7.1% m/m)

I noted in the preview (link below) the volatility of this data point. Case in point.

-7.6% m/m in June vs. +6.9% (revised from +7.1%) in May

• For the y/y, up 9.1%

Given the monthly swings, bset to view it as a bigger pic. Y/y still strong.

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For background on this:

• NZD traders - heads up preview for data due at 2245GMT - Building Approvals (June)

Oh yes, more to come from NZ later too:

• NZD traders - a preview of NZ data due at 0100GMT likely to impact the currency

(and don't even get me started on all the rest coming up fromAsia time today! … China PMIs, Aussie data, BOJ! … Here is what's on the economic calendar in Asia today)