Australia Building approvals for May

  • +2.4% m/m, expected +1.2%, prior was -5.2%, revised from -4.4%
  • +17.6% y/y, expected +14.4%, prior was +18.0%, revised from +16.3%

From the Australian Bureau of Statistics:

  • The trend estimate for total dwellings approved fell 0.1% in May after rising for 11 months.
  • The seasonally adjusted estimate for total dwellings approved rose 2.4% in May following a fall of 5.2% in the previous month.

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AUD barely changed since the release, close on to overnight highs at present ... more to come