Building Consents data from NZ
- For the y/y, up 21.9%
The June result is the biggest m/m rise since June of 2004
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Background to this, some comments from Westpac's preview of the data:
- Residential building consents fell only slightly in April. Consents for multiples (apartments, etc) were particularly strong in March, and we had expected a reversal in April. However, they actually remained at relatively firm levels
- Difficulties accessing finance and shortages of skilled labour continue to provide a brake on building activity. Consequently, while building activity remains elevated, we expect it will only rise at a gradual pace.
