Investing.com – The number of new building approvals issued in Australia fell significantly more-than-expected in September, official data showed on Wednesday.
In a report, the Australian Bureau of Statistics said new building approvals issued tumbled by a seasonally adjusted 13.6% in September, disappointing expectations for a 4.7% decline.
The previous month’s figure was revised down to a gain of 10.7% from a previously reported 11.4% increase.
Year-on-year, the number of building approvals issued in Australia fell at an annualized rate of 12.0% in September, after dropping at a rate of 5.3% in August.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD climbing 0.68% to trade at 1.0401.
In a report, the Australian Bureau of Statistics said new building approvals issued tumbled by a seasonally adjusted 13.6% in September, disappointing expectations for a 4.7% decline.
The previous month’s figure was revised down to a gain of 10.7% from a previously reported 11.4% increase.
Year-on-year, the number of building approvals issued in Australia fell at an annualized rate of 12.0% in September, after dropping at a rate of 5.3% in August.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD climbing 0.68% to trade at 1.0401.