In a significant turnaround, New Zealand's building consents rose by 5.3% month-over-month in November 2024, marking a recovery from the previous month's decline. According to the latest data updated on January 12, 2025, this increase comes as a welcome change from October 2024, when building consents had plunged by 5.2%.
The shift in November indicates a reversal in the negative trend and suggests improving confidence within the construction sector. This recovery reflects possibly favorable conditions, such as improved economic sentiment or favorable policy measures, that have lent support to the industry after a month of downturn.
As the construction sector is a vital component of New Zealand's economy, this rebound could have positive repercussions on related industries, stimulating further economic activity. Stakeholders will be keen to see if this positive momentum can be sustained in the coming months, potentially signaling ongoing growth and stability in the market.
The material has been provided by InstaForex Company - www.instaforex.com
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