Australia: HIA New Home Sales slide in July despite RBA cuts

By FXstreet.com,  August 27, 2012, 09:08:00 PM EDT

FXstreet.com (San Francisco) - After three straight months of recording gains, Australian New Home Sales fell 5.6 percent in July from the previous month's 2.8 percent increase, the Housing Industry Association (HIA) reported Tuesday. Housing construction continues to be a struggling sector of the economy, and this decline in new homes comes in the face of recent interest rate cuts by the Reserve Bank of Australia ( RBA ).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks: RBA



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