Australian Building approvals for October

+3.9% m/m,

  • expected -2.5%, prior was +2.2%

& for the y/y, +12.3%

  • expected +5.7%, prior was 21.4%

The 'key points' from the Australian Bureau of Statistics:

TOTAL DWELLING UNITS

  • The trend estimate for total dwellings approved fell 0.6% in October and has fallen for seven months.
  • The seasonally adjusted estimate for total dwellings approved rose 3.9% in October and has risen for two months.

PRIVATE SECTOR HOUSES

  • The trend estimate for private sector houses approved fell 0.5% in October and has fallen for five months.
  • The seasonally adjusted estimate for private sector houses fell 2.1% in October and has fallen for two months.

PRIVATE SECTOR DWELLINGS EXCLUDING HOUSES

  • The trend estimate for private sector dwellings excluding houses fell 0.8% in October and has fallen for seven months.
  • The seasonally adjusted estimate for private sector dwellings excluding houses rose 10.6% in October and has risen for two months.

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Still to come, due at 0330GMT .... Preview of the RBA monetary policy decision today and accompanying statement