03.03.201919:50:00UTC+00Australia Building Approvals Rise 2.5% In January

The total number of building approvals consented in Australia was up a seasonally adjusted 2.5 percent on month in January, the Australian Bureau of Statistics said on Monday - coming in at 14,395.

That exceeded expectations for a gain of 1.5 percent following the 8.4 percent slide in December.

On a yearly basis, approvals plummeted 28.6 percent - which actually beat forecasts for a fall of 28.9 percent following the 22.5 percent drop in the previous month.

The seasonally adjusted estimate of the value of total building approved rose 1.3 percent in January.