- Analytics
- News and Tools
- Market News
- New Zealand Building Permits decline by 10.6% versus forecast 8.5% increase
New Zealand Building Permits decline by 10.6% versus forecast 8.5% increase
- New Zealand Building Permits broadly missed expectations, printing at -10.6%.
- Markets expected an 8.5% rebound in new building approvals.
- NZ Building Permits down 24% YoY.
New Zealand Building Permits fell to a 15-month low of -10.6% in November, falling well short of the market forecast of an 8.5% increase.
New Zealand Building Permits are down 24% for the year ended in November, with the annualized number of new home consents continuing to decline from an all-time peak of 51,015 for the year ended May 2022. Annualized rolling Building Permits have fallen back to a multi-year low last seen in late 2020.
Market Reaction
The Kiwi (NZD) is rangebound in early Thursday action, trading into a tight range just above 0.6220 as markets gear up for Thursday’s trading session.
About New Zealand Building Permits
The Building Permits s.a. released by the Statistics New Zealand show the number of permits for new construction projects. It is considered as a leading indicator for the housing market. The more growing number of permits, the more positive (or bullish) for the NZD, while a low reading is seen as negative, or bearish.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
