Data from the Australian Bureau of Statistics:
Comment from the ABS:
- "The increase in the total number of dwellings approved in December was led by a sharp rise in approvals for private sector dwellings excluding houses (+56.6 per cent). The result was driven by a number of large apartment developments approved in New South Wales and Victoria," Mr Rossi said.
"Approvals for private sector houses continued to track downwards, falling by 2.3 per cent."
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Apartment approvals make this a 'lumpy' data series. Down 9% in November, up 18% in December is the sort of thing you can expect.
At the same time we had National Australia Bank quarterly business confidence, coming at -1 from the previous +9. This does not get the attention that the monthly NAB survey does.
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AUD/USD is little changed.
