The total number of building permits in Australia was up a seasonally adjusted 2.9 percent in November, the Australian Bureau of Statistics said on Thursday, standing at 13,307.
That was just shy of forecasts for an increase of 3.0 percent following the revised 5.2 percent contraction in October (originally 7.6 percent).
On a yearly basis, building permits climbed 13.2 percent, beating forecasts for an 11.6 percent gain after rising 14.5 percent in the previous month.
The seasonally adjusted estimate for private sector dwellings excluding houses jumped 10.1 percent in November following a fall of 15.0 percent in the previous month.The seasonally adjusted estimate of the value of total building approved fell 4.1 percent in November and has fallen in two straight months.
The value of residential building rose 2.7 percent following a fall of 11.4 percent in the previous month. The value of non-residential building fell 14.4 percent following a rise of 21.0 percent in October.
by RTT Staff Writer
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