Building Consents m/m reflect summary data on permits for the construction of residential and non-residential buildings priced at 5000$ and higher, granted by New Zealand consent authorities. The indicator is calculated as a change in the reported month compared to the previous one. The calculation accounts for taxes on goods and services, however it is not adjusted for inflation.
Data on construction approvals are considered as an indicator of confidence in the domestic economy, therefore construction consents are also considered as a leading indicator of the construction sector activity.
