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Financial News: Australia Building Permits Slide 4.0% In March

Australia Building Permits Slide 4.0% In March

05/03/2020 - 21:45:00 (RTTNews)

(RTTNews) - The total number of building permits issued in Australia in March was down a seasonally adjusted 4.0 percent on month, the Australian Bureau of Statistics said on Monday - coming in at 15,279.

That follows the 5.8 percent drop in February.

On a yearly basis, building permits rose 0.2 percent - slowing from the 19.9 percent jump in the previous month.

Permits for private sector houses fell 1.2 percent on month and 2.2 percent on year to 8,520, while permits for private sector dwellings excluding houses sank 8.2 percent on month but gained 3.4 percent on year to 6,538.

The value of total building approved fell 6.5 percent in March. The value of residential building fell 5.9 percent, while the value of non-residential building fell 7.3 percent.

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