Australia Building Approvals Surge 18.5% In December
(RTTNews) - The total number of building permits issued in Australia was up a seasonally adjusted 18.5 percent on month in December, the Australian Bureau of Statistics said on Thursday - coming in at 16,556.
That blew away expectations for an increase of 1.0 percent following the 9.0 percent contraction in November.
Permits for private sector houses fell 2.3 percent on month to 8,903, while permits for private sector dwellings excluding houses skyrocketed 56.6 percent to 7,091.
On a yearly basis, permits for private sector houses sank 11.7 percent and permits for private sector dwellings excluding houses added 2.9 percent, with overall permits slipping 3.8 percent.
The seasonally adjusted estimate for the value of total building approved rose 3.0 percent in December, following a 0.6 percent fall in November. The value of total residential building rose 6.6 percent, comprising of a 7.2 percent increase in new residential building, and a 2.7 percent rise in alterations and additions.
The seasonally adjusted estimate for the value of non-residential building fell 1.7 percent, following a 2.2 percent increase in November.
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