Australia Building Approvals m/m
Australia Building Approvals m/m represent a change in the number of permits issued by government authorities for new construction projects, including housing, commercial and industrial buildings, in the reported month compared to the previous one. The calculation includes the following:
- New building construction approvals
- Approvals for alterations and additions to existing buildings
- Approvals for repair and construction works
The statistics include approvals for the construction of residential buildings worth $10,000 or more. The minimum cost of non-residential buildings included in the indicator calculation is $50,000.
Data for calculation are collected from local government bodies and certifying agencies. Figures are seasonally adjusted, because construction intensity is traditionally higher in some periods. Thus, the seasonal adjustment allows for a more correct month-to-month comparison of data.
The value reflects current demand for housing and commercial buildings. It is considered to be a leading indicator of national construction industry activity: an increase in the number of construction approvals will subsequently lead to an increase in projects. Also, the indicator may indirectly affect the banking sector (due to mortgage loans and credits for production expansion).
Therefore the indicator growth may have a positive effect on Australian dollar quotes.
The chart of the entire available history of the "Australia Building Approvals m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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