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. LISTEN ABOVE

Source: New Zealand Herald December 02, 2022 02:25 UTC