In New Zealand, Building Permits MoM gauges the month-over-month percentage change in the total value of permits granted for construction projects. This indicator serves as a key metric for evaluating trends in construction activity and potential future developments in the housing market, reflecting the health of the construction sector and overall economic conditions.
A higher than expected figure should be seen as positive (bullish) for the NZD while a lower than expected figure should be seen as negative (bearish) for the NZD.