AUSTRALIA BUILDING PERMITS SURGE IN FEBRUARY

The total number of building permits issued in Australia came in at a seasonally adjusted 21.6 percent on month in February - standing at 19,422.

That was in line with expectations following the 19.4 percent slump in January.

Private sector houses rose 15.1 percent, while private sector dwellings excluding houses increased 45.3 percent.

On a yearly basis, overall permits climbed 20.1 percent, private sector houses surged 57.5 percent and private sector dwellings excluding houses plunged 28.7 percent.

The seasonally adjusted estimate for the value of non-residential building approved rose 27.5 percent.

News are provided by InstaForex