Australian August building permits data is due at 0130 GMT on 3 October 2018
- expected 1.0% m/m
- prior -5.2% m/m
- expected -2.5% y/y
- prior -5.6% y/y
ANZ are way under the consensus, looking for a big drop:
- We believe building approvals fell 5% m/m in August. The ACT is likely to see the sharpest decline, after approvals jumped to a record level in July that is not expected to be sustained.
- More broadly, we anticipate approvals trending lower from here, in line with tighter credit available and softer housing finance approvals.
(bolding mine, the ACT by the way is a small Australian 'state' (not actually a state but I'll leave the hair splitters to argue that amongst themselves :- D )
Pic via ANZ also:
