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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand Building Permits s.a. MoM fell to -0.6% in November 2013
FMPMonthlyReleased November 2013
New Zealand Building Permits s.a. MoM fell to -0.6% in November 2013, down 2.0% from October's 1.4% reading. The reading missed the 1.7% consensus by 2.3%. The print is running well below the 12-month average of 2.7%. Building Permits s.a. MoM is now the lowest in 6 months.
Latest Release
-0.6
Actual
1.7
Consensus
1.4
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| NZD/USD | ▲ Direct | +0.55 | FOREX | Bullish NZD | → View |
| NZD/JPY | ▲ Direct | +0.45 | FOREX | Bullish NZD | → View |
| AUD/NZD | ▼ Inverse | −0.40 | FOREX | Bearish AUD | → View |
| EUR/NZD | ▼ Inverse | −0.35 | FOREX | Bullish NZD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Building Permits s.a. MoM (New Zealand) was reported at -0.6% in November 2013. This missed the market consensus of 1.7% by 2.3%. The reading fell from the previous value of 1.4%.
WHY IT MATTERS
The trailing three releases averaged 0.73%, down from the prior three at 3.57%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with NZD/USD (Bullish NZD). A secondary relationship exists with NZD/JPY, positively correlated (Bullish NZD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include RBNZ Interest Rate Decision (May 27) and Monetary Policy Statement (May 27).
Auto-generated from current model state · Refreshes on each release · Last update November 2013.
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Building Permits s.a. MoM - NZ
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About Building Permits s.a. MoM — New Zealand
DEFINITION
Building Permits s.a. MoM (seasonally adjusted month-over-month) is a key financial indicator that measures the change in the number of permits issued for new construction projects in a given month, after accounting for seasonal variations. This indicator is used by economists and investors to gauge the strength of the construction sector and overall economic activity. A higher number of building permits indicates a growing demand for new construction, which can have a positive impact on employment and consumer spending. Conversely, a decline in building permits may signal a slowdown in the economy.
WHY THIS INDICATOR MATTERS
Housing data leads broader economic cycles by several months and is highly rate-sensitive, with knock-on effects to construction, materials, and consumer credit. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Nov 2013): actual -0.6 %, consensus 1.7 %. Prior reading (Oct 2013): 1.4 %. Before that (Sep 2013): 1.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.