Investing.com – The number of new building approvals issued in Australia rose less-than-expected in July, official data showed on Tuesday.
In a report, the Australian Bureau of Statistics said new building approvals issued rose by a seasonally adjusted 1.0% in July, falling short of expectations for a 2.1% gain.
The previous month’s figure was revised to a decline of 3.6% from 3.5%.
Year-on-year, the number of building approvals issued in Australia fell at an annualized rate of 15.0% in July, after dropping at a rate of 14.3% in June. Analysts had expected year-on-year new building approvals to fall at an annualized rate of 12.4%.
Following the release of the data, the Australian dollar was fractionally lower against its U.S. counterpart, with AUD/USD easing down 0.04% to trade at 1.0652.
In a report, the Australian Bureau of Statistics said new building approvals issued rose by a seasonally adjusted 1.0% in July, falling short of expectations for a 2.1% gain.
The previous month’s figure was revised to a decline of 3.6% from 3.5%.
Year-on-year, the number of building approvals issued in Australia fell at an annualized rate of 15.0% in July, after dropping at a rate of 14.3% in June. Analysts had expected year-on-year new building approvals to fall at an annualized rate of 12.4%.
Following the release of the data, the Australian dollar was fractionally lower against its U.S. counterpart, with AUD/USD easing down 0.04% to trade at 1.0652.