Westpac has just released their building consent numbers, and they've dropped down lower than predicted. 

Dwelling consent numbers are down by 11 percent, which is larger than the 5 percent drop that Westpac had forecasted. This drop goes deeper than the normal month-to-month volatility, and tougher financial conditions play a role in these figures.

Liam Dann, NZ Herald business editor says that the numbers appear to be over a peak and the downside indicators for the construction sector are a key factor in these figures.

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