Building approvals for December

For the m/m, -3.3%

  • expected -5.0%
  • prior was +7.7%, revised from +7.5%

For the y/y, +8.8%

  • expected +5.1%
  • prior was +10.2%, revised from +10.1%

Out at the same time: Australia – Trade balance for December: -436m (vs. expected -850m)

Both the building approvals and trade data beat expectations

abs building approvals 03 February 2015

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The m/m dip comes after big gains in the prior two months, +11.5% in October and +7.7% in November

The y/y number was well ahead of what was expected, augers well for growth in the construction industry.