Friday, 7 November 2014

FW: BNZ Weekly Overview

Tony Alexander

Weekly Overview November 6 2014

Welcome to the November 6 2014 BNZ Weekly Overview.

This week's issue is filled with graphs and therefore bigger than usual so to access it click here.

This week we have learnt that New Zealand's jobs growth remains strong and the unemployment rate is tracking downward, now at 5.4%. But there is not only zero statistical evidence of wages growth accelerating, there is some evidence that it is slowing! Dwelling consent numbers fell 12% in September so some plateauing is happening in that sector. But non-residential consent issuance is rising firmly. In Auckland home listings are falling, sales are falling, but prices are rising at a near 10% pace. Maybe that rate will hold up given rising net migration inflows, a far less concerning interest rate outlook, and in fact falling fixed borrowing costs.


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All the best

Tony Alexander
Chief Economist

04 474-6744

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