Australia Building Approvals Slump 9.5% In December
(RTTNews) - The total number of building approvals issued in Australia tumbled a seasonally adjusted 9.5 percent on month in December, the Australian Bureau of Statistics said on Thursday - coming in at 13,085.
That was well shy of expectations for a decline of 0.5 percent following the 0.3 percent increase in November.
On a yearly basis, permits slipped 2.0 percent after dipping 1.2 percent in the previous month.
The seasonally adjusted estimate for private sector house approvals fell 0.5 percent, following a 4.3 percent decline in November. Private sector dwellings excluding houses approved fell 25.3 percent following a 7.5 percent November increase.
The value of new residential building fell 3.8 percent to A$6.03 billion. The value of non-residential building fell 10.6 percent to A$4.32 billion.
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