Wednesday, August 3, 2011

Number of New Permits in Australia Continues to Fall

Don't miss the chart at the link.
Australian Dollar Erases Gains on Continued Construction Weakness
The fall in building approvals pointed towards a still-languishing construction sector in the southern country. Year-over-year approvals have fallen off since the peak set in early 2010, fueled by the burgeoning mining industry. Additional Chinese slowing, which may cut into the demand of Australian raw materials exports, could add more headwinds for the sector.

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