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Financial News: Australia Building Approvals Plummet 20.0% In December

Australia Building Approvals Plummet 20.0% In December

01/31/2018 - 19:50:00 (RTTNews)

(RTTNews) - The total number of building permits issued in Australia was down a seasonally adjusted 20.0 percent on month in December, the Australian Bureau of Statistics said on Thursday - coming in at 16,891.

That missed forecasts for a decline of 7.6 percent following the upwardly revised 12.6 percent spike in November (originally 11.7 percent).

On a yearly basis, building permits sank 5.5 percent - again missing expectations for an increase of 11.5 percent following the upwardly revised 18.1 percent surge in the previous month (originally 17.1 percent).

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