The number of dwelling units approved in Australia dropped in June, but the rate of decline was weaker than expected by economists, data from the Australian Bureau of Statistics showed Tuesday.
As many as 13,336 dwelling units were approved in June, which was 2.5 percent less than a month earlier on a seasonally adjusted basis. Economists expected a decline of 15 percent after a strong 27 percent gain in the previous month.
The seasonally adjusted estimate for private sector houses fell 1.1 percent in June following a rise of 7.3 percent in the previous month.
Year-on-year, total dwelling permits increased 10.2 percent. Approvals for private houses declined 7.7 percent annually.
by RTT Staff Writer
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