Building approvals in Australia climb 10% in May

Source: RTT News
© Scanpix/FP
The number of new approvals for building in Australia surged 9.9% in May of the current year on a monthly basis, reaching as much as 16,425. Analysts predicted a slight 3.2% increase of the indicator after a 5.8% drop in April.  At the same time, year-on-year approvals climbed 14.3%, which also topped economists' predictions of 8%. The value of approved construction objects rose 26.1% in May.
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