New Zealand data - August building permits -1.6% m/m (prior +5.0%)

Earlier from New Zealand:

• New Zealand consumer confidence data is still languishing at a deeply pessimist value

August building permits now.

-1.6% m/m

• prior +5%

Building permits data are choppy month to month given the ins and out of multi-unit development. The y/y came in at +8.9%, which is a better indicator of the still-solid trend for this sector of the NZ economy.

NZD/USD is little changed, circa 0.5725 as I post.