Australia Building Approvals Sink 6.1% In August

(RTTNews) - The total number of building permits issued in Australia was down a seasonally adjusted 6.1 percent on month in August, the Australian Bureau of Statistics said on Tuesday said on Tuesday - coming in at 13,991 consents.

That missed forecasts for a decline of 4.3 percent following the upwardly revised 11.0 percent spike in July (originally 10.4 percent).

On a yearly basis, permits were up 3.6 percent.

Permits for private sector houses rose 0.5 percent on month and 8.4 percent on year to 9,338, while permits for private sector dwellings excluding houses tumbled 16.5 percent on month and 6.1 percent on year.

The value of total building approved fell 0.2 percent to A$13.25 billion following a 6.9 percent rise in July.