Investing.com – The number of new building approvals issued in Australia rose more-than-expected in November, official data showed on Tuesday.
In a report, the Australian Bureau of Statistics said new building approvals issued surged by a seasonally adjusted 8.4% in November, easily surpassing expectations for a 6.0% increase.
The previous month’s figure was revised to a drop of 10.0% from a previously reported 10.7% decline.
Year-on-year, the number of building approvals issued in Australia fell at an annualized rate of 18.9% in November from a year earlier, after tumbling at a rate of 29.9% in October.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD climbing 0.67% to trade at 1.0308.
In a report, the Australian Bureau of Statistics said new building approvals issued surged by a seasonally adjusted 8.4% in November, easily surpassing expectations for a 6.0% increase.
The previous month’s figure was revised to a drop of 10.0% from a previously reported 10.7% decline.
Year-on-year, the number of building approvals issued in Australia fell at an annualized rate of 18.9% in November from a year earlier, after tumbling at a rate of 29.9% in October.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD climbing 0.67% to trade at 1.0308.