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Economic Statistics: NZD building permits surge

Posted by Akhilesh Ganti on May 29, 2013 7:05:00 PM

New Zealand's building permits for April came out at +18.5% which was much higher than both estimates of +7.7% and last month's reading of -9.1%. Permits rose by 43% on an annual basis while the actual number of 1,779 was the highest since April 2008. NZD/USD was little changed on this release as it trades around the 0.8100 level. It might be interesting to note that RBNZ's Wheeler has stated that he doesn't want financial or price stability compromised by housing demand getting too far ahead of supply.

NZ buildingpermits apr13

 

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