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InstaForex - Official partner of Dragon Racing

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2013.10.3021:49:00UTC+00Australia Building Approvals Surge 14.4% In September

The total number of building approvals in Australia jumped a seasonally adjusted 14.4 percent in September compared to the previous month, the Australian Bureau of Statistics said on Thursday, standing at 16,318.

That shattered forecasts for a gain of 2.8 percent following the upwardly revised 1.6 percent decline in August (originally -4.7 percent).

On a yearly basis, approvals spiked 18.6 percent - also blowing past forecasts for a gain of 1.2 percent following the upwardly revised11.1 percent jump in the previous month (originally 7.7 percent).

The seasonally adjusted estimate for private sector houses added 1.5 percent in September following a fall of 1.2 percent in August. Private sector dwellings excluding houses surged 31.8 percent.

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