Investing.com - Dwelling units approved in Australia fell less than expected in October at -1.8%, the Australian Bureau of Statistics said Monday, compared to a forecast of -5.0%, signaling tentatively that housing construction has the potential to pick up the slack in the economy as resources investment wanes.
The data comes ahead of a Reserve Bank of Australia policy review on Tuesday where it is widely expected to leave the cash rate at a record low 2.5%.
The data comes ahead of a Reserve Bank of Australia policy review on Tuesday where it is widely expected to leave the cash rate at a record low 2.5%.