Asian Economic News

Australia Apr Building Approvals Rise Unexpectedly

The total number of building approvals issued in Australia climbed unexpectedly in April, the Australian Bureau of Statistics said on Tuesday.

The seasonally adjusted estimate for total dwellings approved rose 3.0 percent monthly in April, following a 2.9 percent spike in March.

It was the second successive monthly increase. Meanwhile, economists had expected a 3.0 percent fall for the month.

Private sector house approvals dropped 2.3 percent in April after rising in the prior two months. At the same time, private sector dwellings excluding houses grew 8.7 percent.

On an annual basis, building consents went up 0.7 percent in April, reversing a 5.4 percent decline a month earlier.

by RTTNews Staff Writer

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