08.01.202423:38:00UTC+00Australia Building Approvals Rise 1.6% In November

The total number of building permits issued in Australia was up a seasonally adjusted 1.6 percent on month in November, the Australian Bureau of Statistics said on Tuesday - coming in at 14,529.

That beat expectations for a decline of 2.0 percent following the downwardly revised 7.2 percent spike in October (originally 7.5 percent).

Approvals for private sector houses fell 1.7 percent on month to 8,506, while permits for dwellings excluding houses climbed 6.7 percent to 5,856.

On a yearly basis, approvals for private sector homes fell 6.2 percent, for dwellings excluding homes rose 0.8 percent and overall shed 4.6 percent.

The value of total building approved fell 9.2 percent on month to A$12.268 billion, following an 8.1 percent increase in October.