The 'Building Permits MoM Prel' in Australia measures the preliminary monthly change in the number of new building permits issued. It is a leading indicator of future construction activity and economic growth, as an increase in permits suggests a rise in future construction work and housing supply. This data is significant for the economy and financial markets because it reflects the health of the construction sector, influences employment, and can impact interest rate decisions by the Reserve Bank of Australia. Market participants closely watch this indicator for insights into economic momentum and potential shifts in monetary policy.
The 'Building Permits MoM Prel' in Australia measures the preliminary monthly change in the number of new building permits issued. It is a leading indicator of future construction activity and economic growth, as an increase in permits suggests a rise in future construction work and housing suppl...