Investing.com – The number of new building approvals issued in Australia plunged unexpectedly in September, falling for the sixth consecutive month, official data showed on Wednesday.
In a report, the Australian Bureau of Statistics said new building approvals issued fell by a seasonally adjusted 6.6% in September, compared to a decline of 4.8% in August, whose figure was revised from 4.7%.
Analysts had expected new building approvals issued to be flat at 0.0% in September.
The data showed that year-on-year, new buidling approvals issued in Australia fell by 11.6% in September, compared to a rise of 4.2% in August. Analysts had expected year-on-year new building approvals issued to fall by 3.7% in September.
Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.28% to hit 0.9967.
In a report, the Australian Bureau of Statistics said new building approvals issued fell by a seasonally adjusted 6.6% in September, compared to a decline of 4.8% in August, whose figure was revised from 4.7%.
Analysts had expected new building approvals issued to be flat at 0.0% in September.
The data showed that year-on-year, new buidling approvals issued in Australia fell by 11.6% in September, compared to a rise of 4.2% in August. Analysts had expected year-on-year new building approvals issued to fall by 3.7% in September.
Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.28% to hit 0.9967.