Australia Building Approvals for May -16.4% m/m (expected -7.8%)

Author: Eamonn Sheridan | Category: News

There are lags between lodging an application and having it approved, which may partially explain why the April figure was (relatively) steady at -1.8% -2.1% revised

Much lower in May, big drop of -16.4%. Approvals lowest since Jan. 2013.
  • for the y/y, down -11.6% (April was +6.1%)
  • Apartments -34.9% m/m and -30.6% y/y
  • Private homes -4.4% m/m, -0.4% y/y

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