AGP Executive Report
Last update: 9 hours agoHousing & building momentum: New home consents topped 40,000 for the first time since 2023, with stand-alone houses up 17–18,627 and multi-unit dwellings up 21–21,954, though June saw a 4% slip as townhouse consents cooled. Construction costs steady: QV CostBuilder says July costs broadly held flat for a second month, helped by a 20.7% month drop in diesel, easing pressure on fuel-heavy trades like excavation. Labour market watch: June quarter unemployment is expected to rise (most forecasts 5.4–5.5% vs 5.3%), with labour supply growing faster than demand and wage growth staying contained. Markets & currency: NZX 50 rose on softer oil and Vista Group’s earnings lift; the kiwi also moved with yen strength after coordinated US-Japan forex intervention. Business leadership: IAB New Zealand appointed NZME CIO Katie Macdiarmid as board chair, succeeding Rob Hutchinson. Policy & politics: PM Christopher Luxon apologised to Rotorua small businesses after “parent-child mentality” remarks. Infrastructure finance: ACCIONA and Aberdeen Investments reached financial close on the $3.6bn Warkworth–Te Hana highway PPP. AI data centre debate: A new commentary argues energy demand—not cooling water—could be the real constraint as AI centres scale. Fuel support extended: Government keeps temporary fuel support for now, citing petrol likely staying above $3 through August and September.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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