Australia’s building permits fell by 6.0% month-on-month, an improvement from the previous month’s 10.0% decline. This marks a 4 percentage point recovery, indicating a slower contraction in the construction sector.
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The actual result matched analyst estimates of a 6.0% decrease, suggesting that the market had accurately anticipated the slowdown. This alignment with expectations is likely to result in a neutral impact on the stock market. Construction and real estate sectors may experience short-term stability, as the data does not signal any unexpected shifts in economic conditions.