Building approvals come in at -5% m/m
- expected -3% m/m, prior +3.5%, revised higher from +2.6%
+1.9 % y/y
- expected +4.1% y/y, prior +14.5%
This data set swings around a bit but no arguing it a set of weak numbers today indeed:
- Confirms that approvals for non-residential building have been falling for 12 months
- Residential alternations/additions also down
