Research Team at BNZ, lists down the key economic releases for the NZ this week.
“Building Consents (Feb) – 30 March
Residential building consents fell in January by more than we anticipated. Non-residential consents also came in on the weak side. We would expect some better results for February, in line with the positive leading indicators we’ve been witnessing regards the construction industry.
ANZ Business Survey (Mar) – 31 March
February’s ANZ business survey weakened by more than we expected – mainly around a bigger capitulation in its agriculture component. And the prognosis for the dairy industry has become worse, not better, over the last month or so. So, again, it will be up to the non-rural sectors to hold this business survey together, overall.
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Credit Aggregates (Feb) – 31 March
Household credit expanded a seasonally adjusted 0.6% in January, just like it did in December. We can’t see why it would slow in any obvious way in February. Credit to the agriculture sector – up 8.6% y/y in January – also bears close ongoing attention, given the dairy sector’s travails.”