Australian July Building approvals +4.2% m/m

  • expected 3.0%
  • prior was -8.2%

For the y/y, +13.4%

  • vs. expected 10.1%
  • prior was 8.6%

Via Australian Bureau of Statistics:

  • the number of dwellings approved fell 0.7 per cent in July 2015, in trend terms, and has fallen for five months.
  • In trend terms, approvals for private sector houses fell 0.5 per cent in July
  • The value of total building approved rose 0.6 per cent in July, in trend terms, and has risen for three months

While the numbers on the month were better than expected, those trend indications show a flattening

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Note: Preview of the RBA announcement due at 0430GMT

RBA meeting today, no rate change expected, economic risks building