New Zealand data – August Building Permits -6.7% m/m (prior -5.4%)

<p>Data for building consents in NZ for August 2023, down 6.7% m/m</p><ul><li>previous was -5.4%</li><li>for the y/y -17%</li></ul><p>Commentary from the statistics folks in the NZ government:</p><ul><li>“This figure continues the downward trend from the peak of 51,015 in the year ended May 2022,” </li><li>

“However, the number of new homes consented in the year ended August 2023 is still at a higher level than any 12-month period prior to 2021.”</li></ul><p>NZD/USD little changed, circa 0.5995.</p><p>Earlier from NZ:</p><ul><li><a href="https://www.forexlive.com/centralbank/rbnz-policy-meeting-this-week-shadow-board-recommend-cash-rate-hold-at-55-20231001/" target="_blank" rel="follow" data-article-link="true">RBNZ policy meeting this week – "Shadow Board" recommend cash rate hold at 5.5%</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.