Economic Buzz: Australia Building Permits Surge In February

31 Mar 2022 , 11:58 AM

Australia total number of building permits surged a seasonally adjusted 43.5 percent on month in February, the Australian Bureau of Statistics said on Thursday, coming in at 18,675, following the 27.9 percent contraction in January. Approvals for private sector houses jumped 16.5 percent in March to 10,240, while approvals for private sector dwellings excluding houses skyrocketed 78.3 percent. On a yearly basis, house permits dropped 27.4 percent, non-house permits jumped 25.5 percent and overall permits shed 7.8 percent.

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