Australia Building Approvals Climb 7.0% In NovemberThe total number of building approvals in Australia issued in November jumped a seasonally adjusted 7.0 percent on month in November, the Australian Bureau of Statistics said on Monday - coming in at 17,569 while rising for the first time in three months.
The headline figure beat forecasts for an increase of 4.5 percent following the upwardly revised 11.8 percent contraction in October (originally -12.6 percent).
On a yearly basis, approvals were down 4.8 percent - but that also topped expectations for a decline of 5.7 percent following the 24.9 percent decline in the previous month.
Approvals issued for private sector houses fell 0.2 percent and has fallen in two straight months.
Approvals for private sector dwellings excluding houses surged 18.5 percent in November after falling for three straight months.
The value of total building approved rose 2.3 percent in November following a fall of 29.0 percent in the previous month.
The value of residential building rose 5.6 percent after falling for three months, while the value of non-residential building fell 3.7 percent and has fallen for two months.
Also on Monday: . The construction sector in Australia continued to contract in December, albeit at a slower pace, the latest survey from the Australian Industry Group showed with a Performance of Construction Index score of 47.0.
That's up from 46.6 in November, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, activity, new orders and employment all contracted. "The lower level of new orders suggests we cannot expect a sustained turnaround over the first few months of 2017," said Ai Group head of policy Peter Burn in a statement. .
The total number of job ads in Australia was down 1.9 percent on month in December after rising 1.7 percent in November, ANZ Bank said.
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