New Zealand Building Permits arrived 35.6%, much better than prior and consensus

New Zealand Building Permits were much improved for the month of May, arriving at 35.6% vs -0.1% vs -9.9% prior. 

More to come....

Description the Building Permits s.a

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.