Australia Oct building approvals fall at slower pace than expected


Shutterstock photo - Dwelling units approved in Australia fell less than expected in October at -1.8%, the Australian Bureau of Statistics said Monday, compared to a forecast of -5.0%, signaling tentatively that housing construction has the potential to pick up the slack in the economy as resources investment wanes.

The data comes ahead of a Reserve Bank of Australia policy review on Tuesday where it is widely expected to leave the cash rate at a record low 2.5% offers an extensive set of professional tools for the financial markets.
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This article appears in: Investing Forex and Currencies
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