Australia Building Approvals Sink 6.5% In June

(RTTNews) - The total number of building approvals issued in Australia was down a seasonally adjusted 6.5 percent on month in June, the Australian Bureau of Statistics said on Tuesday - coming in at 13,237.

That was in line with expectations following the upwardly revised 5.7 percent spike in May (originally 5.5 percent).

On a yearly basis, approvals fell 3.7 percent.

Approvals for private sector houses were down 0.5 percent on month and up 11.0 percent on year at 9,078, while approvals for private sector dwellings excluding houses sank 19.7 percent on month and 22.1 percent on year to 3,918.

The value of total building approved fell 7.0 percent to A$12.06 billion following a 0.4 percent rise in May.