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Australia Building Approvals Jump 7.5% In October
(RTTNews) - The number of building approvals issued in Australia was up a seasonally adjusted 7.5 percent on month in October, the Australian Bureau of Statistics said on Thursday - standing at 14,223.
That was in line with expectations following the upwardly revised 4.0 percent decline in September (originally -4.6 percent).
On a yearly basis, approvals fell 6.1 percent - again matching forecasts following the 20.6 percent drop in the previous month.
Permits for private sector houses rose 2.2 percent on month and fell 8.1 percent on year to 8,505, while permits for dwellings excluding houses jumped 19.5 percent on month but fell 2.7 percent on year to 5,554.
The value of total building approved rose 6.7 percent, following a 5.3 percent decrease in September. The value of total residential building rose 7.0 percent, comprised of an 8.9 percent increase in new residential building and a 3.2 percent fall in alterations and additions.
The value of non-residential building rose 6.2 percent, after a 7.6 percent September decrease.
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