The total number of building approvals issued in Australia was up a seasonally adjusted 6.8 percent on month in August, the Australian Bureau of Statistics said on Thursday – coming in at 18,716.
That blew away forecasts for a decline of 5.0 percent following the 8.6 percent drop in July.
On a yearly basis, building approvals spiked 31.2 percent.
Private sector house approvals rose 3.5 percent in August, to 12,009, following a 5.5 percent fall in July. Private sector dwellings excluding houses rose 13.7 percent in August.
The value of non-residential building approved rose 43.8 percent.
The material has been provided by InstaForex Company – www.instaforex.com