Australia data - Building approvals (November): -12.7% m/m (expected -3.0%)

Building approvals for November 2015

-12.7 % m/m

• expected -3.0%, prior was +3.3%, revised from +3.9%
• For the slit up, private sector houses down 0.5% and private sector apartments down 23.0% (apartments can be a 'lumpy' data series ...and that sure is a big, nasty lump)
• On the raw numbers, dwelling approvals 17,000-odd, the lowest since September of 2014

-8.4 % y/y

• expected 3.9%, prior was +12.6%, revised from +12.3%

That is a very poor result and does not augur well for the Australian economy going forward. yes, its just one month, but it adds to the softening data we've seen from this and other data series.

Check out that graph on the left .... bleah ...