Total dwelling approvals for Australia in February 2024:
-1.9% m/m
- expected +3.3%, prior -1.0%
Another weak building approvals data point. Three in a row of declines m/m.
You'll note the estimate was for a rise, this was on the basis of some sort of bounce back from January. But that didn't eventuate. It looks like further weakness ahead for this sector.
AUD little changed:
