The total number of building approvals issued in Australia climbed a seasonally adjusted 3.9 percent on month in October, the Australian Bureau of Statistics said on Tuesday – coming in at 19,652.
That beat forecasts for a decline of 2.5 percent following the 2.2 percent increase in September.
On a yearly basis, approvals jumped 12.3 percent – also topping expectations for 5.7 percent but down from 21.4 percent in the previous month.
The seasonally adjusted estimate for private sector houses fell 2.1 percent in October and has fallen for two months.
The seasonally adjusted estimate for private sector dwellings excluding houses climbed 10.6 percent in October and has risen for two months.
The seasonally adjusted estimate of the value of total building approved rose 6.4 percent in October after falling for two months. The value of residential building rose 9.8 percent after falling for two months. The value of non-residential building fell 1.0 percent and has fallen for three months.
Also on Tuesday:
. The ABS said that Australia posted a current account deficit of A$18.104 billion in the third quarter of 2015.
That missed forecasts for a shortfall of A$16.5 billion but was up from the downwardly revised A$20.5 billion deficit in the second quarter (originally -A$19.0 billion).
Net exports of GDP was 1.5 percentage points, beating expectations for 1.2 points after losing 0.6 points in the three months prior.
. The latest survey from the Australian Industry Group showed that the manufacturing sector in Australia continued to expand in November and at a faster pace with an index score of 52.5.
That’s up from 50.2 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The index has been above 50 for five straight months and in six of the last seven.
Among the individual components, sales, exports, deliveries, employment, new orders and production all expanded.
The material has been provided by InstaForex Company – www.instaforex.com