New Zealand March Building Permits +11% m/m (vs. -6.3% prior)

New Zealand March Building Permits: +11.0 % m/m

• prior was -6.5%, revised from -6.3%

This is a volatile number .... living up to its rep today ...

From Stats NZ:

• The number of new dwellings consented was 14 percent higher in March 2015 than in March 2014
• This was the highest number of new dwellings consented in a March month since 2006
• The seasonally adjusted number of new dwellings consented increased 11 percent in March 2015, after recent falls
• The trend for the number of new dwellings consented has flattened in recent months.