FW: BNZ Weekly Overview

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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. http://tonyalexander.co.nz/wp-content/uploads/2014/11/WO-November-6-2014.pdf 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.   New subscribers can sign up here. https://feedback.bnz.co.nz/mail/link/IPJ9nvurvQNd8IHKmrVQ1A   All the best Tony Alexander Chief Economist www.tonyalexander.co.nz 04 474-6744

 

Duane Turner
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