Investing.com – Approvals for home-building in Australian rose in March at their fastest rate since 2002, far faster than expected, official data showed on Wednesday.
The Australian Bureau of Statistics said such approvals increased 15.3% during the month, after a drop of 2.7% in February, whose figure was revised from -3.3%.
Economists had expected a more modest increase of 0.9% in March.
Following the release of the data, the Australian dollar was up against the greenback, with AUD/USD gaining 0.19% to hit 0.9105.
The Australian Bureau of Statistics said such approvals increased 15.3% during the month, after a drop of 2.7% in February, whose figure was revised from -3.3%.
Economists had expected a more modest increase of 0.9% in March.
Following the release of the data, the Australian dollar was up against the greenback, with AUD/USD gaining 0.19% to hit 0.9105.