Building approvals, permits, consents ... call 'em what you like they are well and truly in a downtrend

From a high level, and plenty of residential construction work still in the pipeline

... But enough of the ifs, buts & maybes .... the data:

+1.8% m/m ... beat

  • expected -0.5% m/m, prior -2.5%, revised from -1.2%

-12.0% y/y .... miss

  • expected -11.6% y/y, prior -11.7%, revised from -11.4%

more to come

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ps. Trade balance data on a separate post