Home / Forex Analysis / Australia Building Permits Sink 1.6% On Month In August

Australia Building Permits Sink 1.6% On Month In August

The total number of building permits issued in Australia in August was down a seasonally adjusted 1.6 percent, the Australian Bureau of Statistics said on Wednesday – coming in at 13,691.

That beat forecasts for a decline of 2.0 percent following the 12.0 percent spike in July.

On a yearly basis, consents were up 0.6 percent.

Permits for private sector houses gained 4.8 percent on month and 12.4 percent on year, while permits for private sector dwellings excluding houses plunged 11.0 percent on month and 18.4 percent on year.

The seasonally adjusted estimate for the value of non-residential building approved rose 40.7 percent.

The material has been provided by InstaForex Company – www.instaforex.com