08.01.201719:46:00UTC+00Australia Building Approvals Jump 7.0% In November

The total number of building approvals in Australia issued in November climbed a seasonally adjusted 7.0 percent on month in November, the Australian Bureau of Statistics said on Monday - coming in at 17,569.

That 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.