Australia: Dec building permits accelerate

FXStreet (Bali) - Australian December building permits came at 9.2% m/m vs 4.5% expected and -12.4% last, revised from -12.7%, while the y/y read stood at -2.5% vs 7.2% expected and -7.6% prior, revised from -8.4%.

DECEMBER KEY POINTS

TOTAL DWELLING UNITS: The trend estimate for total dwellings approved fell 0.1% in December and has fallen for eight months. The seasonally adjusted estimate for total dwellings approved rose 9.2% in December following a fall of 12.4% in the previous month.

PRIVATE SECTOR HOUSES: The trend estimate for private sector houses approved rose 0.1% in December and has risen for three months. The seasonally adjusted estimate for private sector houses rose 5.4% in December after falling for three months.

PRIVATE SECTOR DWELLINGS EXCLUDING HOUSES: The trend estimate for private sector dwellings excluding houses fell 0.1% in December and has fallen for nine months. The seasonally adjusted estimate for private sector dwellings excluding houses rose 12.8% in December following a fall of 22.1% in the previous month.

VALUE OF BUILDING APPROVED: The trend estimate of the value of total building approved rose 0.2% in December after falling for four months. The value of residential building rose 0.1% after falling for seven months. The value of non-residential building rose 0.4% and has risen for nine months. The seasonally adjusted estimate of the value of total building approved rose 1.1% in December following a fall of 3.8% in the previous month. The value of residential building rose 4.7% following a fall of 8.9% in the previous month. The value of non-residential building fell 6.1% following a rise of 8.2% in the previous month.