Australia Building Approvals for September +7.6% m/m (expected 0.0%)

Building approvals/permits for Sep 2019 +7.6% m/m … this is a solid beat in an admittedly volatile data set.

• expected 0.0% m/m, prior -1.1%

-19.0% y/y

• expected -25.7% y/y, prior -21.1%, revised from -21.5%

Break up of that headline figure is:

• +16.6% for apartments/units
• +2.8% for detached houses

Check out the other Oz data posts - private sector credit and terms of trade. Its a mixed bag for the data but on balance leaning a little more positive.

• Australia terms of trade data for Q3. Export prices +1.3% q/q, import prices +0.4% q/q
• Australia Private Sector Credit for September: +0.2% m/m (expected 0.3%)