New Zealand Building permits for July: -1.3% m/m (prior -3.9%)

This is a volatile data set.

• the number of homes consented each month can vary significantly due to timing of large multi-dwelling projects, such as townhouses and apartment buildings says Stats NZ

A y/y comparison smooths the lumps out somewhat:

• +24.3% y/y …. not too bad.

-

Earlier data from NZ:

• New Zealand Consumer Confidence for August: +1.5% m/m (prior -5.1%)