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Aussie Building Approvals Downplayed But Questions Remained

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Monday, May 5, 2014
        0333 GMT [Dow Jones] Economists are downplaying the significance of disappointing Australian building approvals data but questions remain. Firstly, approvals have fallen in five of the past six months. Second, a 20% rise in the past year was boosted by very strong gains in the volatile 'other dwellings' component, yet a steep fall in that component in March is one of the main reasons economists are downplaying the latest data. Approvals fell 3.5% in March, undershooting a 2% rise expected by economists. (david.rogers@wsj.com; Twitter: @DRWSJ)
        (END) Dow Jones Newswires

        May 04, 2014 23:33 ET (03:33 GMT)

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