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Financial News: Australia Building Permits Spike 12.0% In July

Australia Building Permits Spike 12.0% In July

08/31/2020 - 21:50:00 (RTTNews)

(RTTNews) - The total number of building permits issued in Australia came in at a seasonally adjusted 12.0 percent on month in July, the Australian Bureau of Statistics said on Tuesday - standing at 13,840.

Ona yearly basis, total permits rose 6.3 percent.

Permits issued for private sector houses climbed 8.5 percent on month and 5.6 percent on year to 8,852, while permits issued for private sector dwellings excluding houses surged 22.7 percent on month and 7.5 percent on year.

The seasonally adjusted estimate of the value of total building approved fell 3.9 percent in July. The value of residential building rose 9.5 percent, while the value of non-residential building fell 19.8 percent.

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