Australia Building Approvals Tumble 8.1% In July
(RTTNews) - The total number of building permits issued in Australia was down a seasonally adjusted 8.1 percent on month in July, the Australian Bureau of Statistics said on Wednesday - coming in at 12,668.
That was well shy of forecasts for a decline of 0.8 percent following the downwardly revised 7.9 percent contraction in June (originally -7.7 percent).
Private sector houses rose 0.1 percent, while private sector dwellings excluding houses fell 15.8 percent. The value of total building fell 16.9 percent.
The value of non-residential building fell 27.8 percent, while the value of new residential building slumped 5.1 percent.
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