Investing.com – Australian housing starts rose less than expected in the first quarter, official data showed on Wednesday.
In a report, the Australian Bureau of Statistics said the seasonally adjusted number of new residential buildings on which construction was began grew only 4.3% in the first quarter, down from 16.8% in the preceding quarter, whose figure was revised up from 15.1%.
Analysts had expected a figure of 7.1% in the first quarter.
Following the release of the data, the Aussie was down against the U.S. dollar, with AUD/USD shedding 0.1% to hit 0.8645.
In a report, the Australian Bureau of Statistics said the seasonally adjusted number of new residential buildings on which construction was began grew only 4.3% in the first quarter, down from 16.8% in the preceding quarter, whose figure was revised up from 15.1%.
Analysts had expected a figure of 7.1% in the first quarter.
Following the release of the data, the Aussie was down against the U.S. dollar, with AUD/USD shedding 0.1% to hit 0.8645.