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Australia Building Approvals Sink 18.5% In March

The total number of building permits issued in Australia was down a seasonally adjusted 185 percent on month in March, the Australian Bureau of Statistics said on Thursday - coming in at 15,183.

That was in line with expectations following the 42.0 percent surge in February.

On a yearly basis, permits were down 35.6 percent.

Permits for private sector houses shed 3.0 percent on month and 32.2 percent on year to 9,932, while permits issued for dwellings excluding houses tumbled 29.9 percent on month and 41.0 on year to 5,004.

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