Economic Buzz: Australia building approvals jump 15.2% in November

The total number of building approvals issued in Australia was up a seasonally adjusted 15.2 percent on month in November, the Australian Bureau of Statistics said on Wednesday - coming in at 18,406.

That follows the 6.1 percent monthly contraction in October.

On a yearly basis, approvals jumped 20.2 percent after sinking 1.8 percent in the previous month.

Approvals for private sector houses rose 1.3 percent on month and 3.2 percent on year to 9,458, while approvals for private sector dwellings excluding houses surged 34.1 percent on month and 55.3 percent on year.

The value of total building work approved rose 12.8 percent in November to A$18.38 billion, after a 1.8 percent October fall.

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