Three is plenty of data to come from Australia today, this is a quickie preview for building permits
Australia - Building approvals for January
- Expected +5.0% m/m, prior (for December) was a big drop, -20% m/m
- expected -0.6% y/y, prior -5.5% y/y
Due 0030 GMT
Via ANZ
- After a couple of volatile months (driven by lumpy unit approvals in Victoria), we think new housing approvals rose a modest 3.5% m/m in January. A result in line with our expectation would see building approvals 2% lower than a year ago.
- We continue to see a stable to positive outlook for building approvals this year, supported by ongoing strength in housing finance for the construction of new dwellings
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Also due from Australia today, more to come on these separately:
Due 0030 GMT , inputs to Q4 2017 GDP (coming up later in the week - Wednesday March 7)
Q4 inventories
expected 0.5% q/q, prior 0.2%
Q4 Company profits
expected 1.5% q/q, prior 0.2%
