Australia Building Permits Sink 3.6% In November

(RTTNews) - The total number of building permits issued in Australia was down a seasonally adjusted 3.6 percent on month in November, the Australian Bureau of Statistics said on Tuesday - coming in at 14,998.

That missed expectations for a decline of 0.9 percent following the 4.2 percent increase in October.

The number of permits issued for private sector houses fell 1.7 percent to 9,028, while private sector dwellings excluding houses fell 10.8 percent to 5,285.

The value of total residential building fell 0.5 percent to A$8.36 billion, while the value of non-residential building jumped 18.4 percent to A$5.96 billion.

On a yearly basis, overall building permits were up 3.2 percent.