Liam Dann: NZ Herald business editor on Westpac building consent figures
Westpac has just released their building consent numbers, and they've dropped down lower than predicted.
Dwelling consent numbers are down by 11 percent, which is larger than the 5 percent drop that Westpac had forecasted. This drop goes deeper than the normal month-to-month volatility, and tougher financial conditions play a role in these figures.
Liam Dann, NZ Herald business editor says that the numbers appear to be over a peak and the downside indicators for the construction sector are a key factor in these figures.
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