Investing.com – The number of new building approvals issued in Australia rose significantly more-than-expected in October, rising for the first time in seven months, official data showed on Tuesday.
In a report, the Australian Bureau of Statistics said new building approvals issued rose by a seasonally adjusted 9.3% in October, after falling by 5.3% in September, whose figure was revised from a decline of 6.6%.
Analysts had expected new building approvals issued to be rise by 1.4% in October.
The data showed that year-on-year, new building approvals issued in Australia rose unexpectedly by 1.2% in October, compared to a decline of 9.7% in September. Analysts had expected year-on-year new building approvals to fall by 8.3% in October.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.04% to hit 0.9635.
In a report, the Australian Bureau of Statistics said new building approvals issued rose by a seasonally adjusted 9.3% in October, after falling by 5.3% in September, whose figure was revised from a decline of 6.6%.
Analysts had expected new building approvals issued to be rise by 1.4% in October.
The data showed that year-on-year, new building approvals issued in Australia rose unexpectedly by 1.2% in October, compared to a decline of 9.7% in September. Analysts had expected year-on-year new building approvals to fall by 8.3% in October.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.04% to hit 0.9635.