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

Author: Eamonn Sheridan | Category: 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 result for a month since August 2013. 

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

We had some excitement with this data point about 10 minutes before the official release, a tech error I would suggest at one of the wires:

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