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AUSTRALIA'S BUILDING APPROVALS FALL BY 11 PCT IN FEBRAURY.
MELBOURNE, April 2 Asia Pulse - Approvals for residential buildngs fell by 11 per cent in February fell against a market expectation of a two per cent rise following a dramatic slump in approvals for medium density dwellings.
While approvals for private houses rose five per cent during the month, approvals for multi-units plummeted 39 per cent.
Macquarie Research analyst Richard Gibbs said the multi-units decline this was the largest monthly fall ever recorded.
Unless there was a quick reverse, the decline in total approvals would be reflected in weaker construction activity in the first half of the year, Mr Gibbs said.
...
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Source: HighBeam Research, AUSTRALIA'S BUILDING APPROVALS FALL BY 11 PCT IN FEBRAURY.