The total number of building approvals issued in Australia was up a seasonally adjusted 7.6 percent on month in September, the Australian Bureau of Statistics said on Thursday – coming in at 14,004.
That beat expectations for a flat reading following the 1.1 percent drop in August.
On a yearly basis, approvals dropped 19.0 percent – but that beat expectations for a decline of 25.7 percent following the 21.5 percent contraction in the previous month.
The seasonally adjusted estimate of the value of total building approved fell 16.6 percent in September. The value of residential building rose 8.0 percent, while the value of non-residential building plummeted 36.6 percent.
The material has been provided by InstaForex Company – www.instaforex.com