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AUST ECONOMIC DATA LARGELY NEGATIVE.

AsiaPulse News

| April 01, 2009 | COPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, April 1 Asia Pulse - The negatives outweighed the positives in the rash of economic data released on Wednesday.

The headliner was retail trade, which fell by 2.0 per cent in February, seasonally adjusted, as the effect of the handouts from the government's fiscal stimulus package faded.

Heading the other way, the number of residential building approvals rose by 7.8 per cent in February, seasonally adjusted, the first rise since June.

Their value was up by 8.7 per cent, while the value of non-residential approvals jumped by 18.5 per cent.

In each case, though, the value of approvals was well below its year-ago level - 22 per cent for residential and 24 per cent for non-residential.

The effects of the underlying slow trend in retail spending and the weakness in construction were evident in two other economic data releases earlier on Wednesday.

The monthly count of skilled job ads by the Department of Employment Education and Workplace Relations showed a 10.8 ...

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Source: HighBeam Research, AUST ECONOMIC DATA LARGELY NEGATIVE.

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