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Australian Building Approvals Drop, Adding to Case to Keep Rates Unchanged

By Implode-Explode Heavy Industries

"The number of permits granted to build or renovate houses and apartments dropped 4.2 percent from October, when they rose a revised 8.3 percent, the Bureau of Statistics said in Sydney today. That compares with the median forecast for a 4 percent decline in a Bloomberg survey of 11 economists."

Full post as published by Mortgage Lender Implode-o-Meter on January 06, 2011 (boomark / email).