Australia Building Approvals Sink 4.6% In September

The total number of building approvals issued in Australia was down a seasonally adjusted 4.6 percent on month in September, the Australian Bureau of Statistics said on Wednesday – coming in at 13,144.

That missed expectations for a flat reading following the upwardly revised 8.1 percent increase in August (originally 7.0 percent).

On a yearly basis, building approvals slumped 20.6 percent.

Approvals for private sector houses fell 4.6 percent on month and 12.6 percent on year to 8,338, while approvals for private sector dwellings excluding houses sank 5.1 percent on month and 33.1 percent on year to 4,553.