Australia's building approvals dropped in May compared with the previous month, the latest figures from the Australia Bureau of Statistics showed Wednesday.
Total number of dwelling units approved in May fell 1.1 percent from a month earlier on a seasonally adjusted basis. This followed a 9.5 percent month-on-month growth recorded in April. Economists had predicted a 1 percent fall.
The number of private residential units approved, meanwhile, increased 2.5 percent month-on-month.
On an annual basis, overall building consents dropped 3.2 percent in May, data showed.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.