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Australia Building Approvals Surge In May

RTTNews | 737 days ago

Australia Building Approvals Surge In May

(RTTNews) - The total number of building permits issued in Australia was up a seasonally adjusted 20.6 percent on month in May, the Australian Bureau of Statistics said on Monday - coming in at 15,032.

That beat expectations for an increase of 2.0 percent after dropping an upwardly revised 6.8 percent in April (originally -8.1 percent).

On a yearly basis, approvals fell 9.,8 percent.

Approvals for private sector houses rose 0.9 percent on month and fell 15.3 percent on year at 8,135, while approvals for private sector dwellings excluding houses skyrocketed 59.4 percent on month and eased 0.1 percent on year.

The seasonally adjusted estimate for the value of total building approved rose 11.1 percent in May, following a 1.7 percent rise in April. The value of total residential building approvals rose 15.2 percent comprised of a 17.1 percent increase in new residential building, and a 4.3 percent rise in alterations and additions.

Tags: AUD

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Australia Building Permits Climb 3.2% On Month In May

Australia Building Permits Climb 3.2% On Month In May

The total number of building permits issued in Australia was up a seasonally adjusted 3.2 percent on month in May, the Australian Bureau of Statistics said on Wednesday - coming in at 15,212.

RTTNews | 28 minutes ago

Australia Central Bank Unexpectedly Maintains Status Quo

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The Reserve Bank of Australia adopted a wait-and-see approach on Tuesday, defying expectations for a quarter-point rate cut but confirmed that an easing cycle is coming. The policy board, governed by Michele Bullock, decided to hold the cash rate target at 3.85 percent. A majority of six members voted to hold the rate, while three members sought a change from 3.85 percent.

RTTNews | 17h 8min ago

Australia Manufacturing Sector Ebbs In June - S&P Global

Australia Manufacturing Sector Ebbs In June - S&P Global

The manufacturing sector in Australia continued to expand in June, albeit at a slower pace, the latest survey from S&P Global showed on Tuesday with a manufacturing PMI score of 50.6.

RTTNews | 8 days ago

Australia Inflation Eases In May

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Australia's consumer price inflation softened more than expected in May, giving space for the central bank to lower its interest rate. The monthly Consumer Price Index indicator rose 2.1 percent year-on-year, following the 2.4 percent increase in April, the Australian Bureau of Statistics reported Wednesday. A similar lower rate was last seen in October 2024.

RTTNews | 13 days ago

Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.

RTTNews | 28 days ago

Australia GDP Adds 0.2% On Quarter In Q1

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Australia's gross domestic product expanded a seasonally adjusted 0.2 percent on quarter in the first quarter of 2025, the Australian Bureau of Statistics said on Wednesday.

RTTNews | 35 days ago

Australia Services PMI Ebbs In May - S&P Global

Australia Services PMI Ebbs In May - S&P Global

The services sector in Australia continued to expand in May, albeit it at a slower pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 50.6.

RTTNews | 35 days ago

Australia Manufacturing PMI Slows In May - S&P Global

Australia Manufacturing PMI Slows In May - S&P Global

The manufacturing sector in Australia continued to expand in May, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.0.

RTTNews | 37 days ago

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