New Zealand — Building Consents (permits) August: +10.2% m/m (prior -0.7%)

Previous month is here: Building consents (permits) for July: -0.7% m/m (prior -1.0%) … note July revised up (see bullets, below)As I note each month, this is a volatile data point … and living up to its reputation today!

  • +10.2% m/m (July revised to +1.7% from -0.7m/m) and +12% y/y
  • August highest in 6 months … but wait, there’s more (see next bullet)
  • Monthly building consents for new homes reached a 13-year-high in August 2017
  • Driven by multi-unit developments
  • Across New Zealand, 3,166 new homes were consented in August 2017 — up 12 percent from August 2016, and the most for any month since June 2004

NZD little changed after the data has hit  

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