Australia Building Approvals for November: -9.1% m/m (expected -0.3%)

News

The data (in a nutshell) is glimpse into the ‘pipeline’ of work to come – its been trending lower for quite some time indeed

Comes in today at -9.1% m/m 

  • expected -0.3% m/m, prior -1.4% revised from -1.5%

And at -32.8% y/y

  • expected -24.8% y/y, prior -13.1%, revised from -13.4%

Ugly numbers … admittedly its a volatile data set …. but the result well under already low estimates.

The lowest for a month since August 2013

The y/y results the past 3 years or so:

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