Australian Building Approvals Drop by 1.9% in February 2024

Thursday, 4 April 2024, 00:33

The latest data reveals a 1.9% decline in building approvals in Australia for February 2024 compared to expectations of a 3.3% increase. This unexpected drop signals potential challenges in the construction sector, highlighting a potential slowdown in the housing market.
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Australian Building Approvals Drop by 1.9% in February 2024

Australian Building Approvals Report - February 2024

Total dwelling approvals for Australia in February 2024 declined by 1.9% m/m, contrasting with the expected +3.3% rise and the previous month's -1.0%. This data indicates a concerning trend in the construction industry, potentially impacting the overall economy.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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