Australia Building Approvals for June: 6.4% m/m (expected +1.0%)

Building permits data from Australia for the month of June 2018

For the m/m, comes in at +6.4% and a big beat … this will be a positive input for the AUD

• expected +1.0% m/m, prior -3.2%

And for the y/y: +1.6%

• expected -6.0% y/y, prior +3.1%

I should of should have course note that this is a volatile data point so swings are not unusual. Still, approvals setting a 3 month high today and checlk out the charts ….

The 'trend' had turned down but looks a bit more flat now. Good news for the 'pipeline' of construction work. Infrastructure development is going gangbusters at the same time … constructions sector inflation is about to move higher still ….

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For background on this:

• AUD traders - heads up for data due Tuesday - Building Permits (June) preview
• Australian data due today - preview of June building permits