Australia Building Permits Tumble 12.9% In October

(RTTNews) - The total number of building permits issued in Australia was down a seasonally adjusted 12.9 percent on month in October, the Australian Bureau of Statistics said on Tuesday - coming in at 15,911.

That was in line with expectations following the 3.9 percent drop in September.

Permits for private sector houses rose 4.3 percent on month to 10,799, while permits for private sector dwellings excluding houses plummeted 37.5 percent to 4,821.

On a yearly basis, permits for private sector houses slipped 3.7 percent, permits for private sector dwellings excluding houses sank 16.5 percent and overall permits fell 8.1 percent.