Building approvals fall in February

Building approvals fell sharply in February.

Building approvals fell sharply in February, coming in well below expectations, as weakened demand for apartments weighed on the data.

The Australian Bureau of Statistics data showed the number of buildings approved fell a seasonally adjusted 5% to 16,669 in the month.

That compares to an initially reported 17,514 approvals in January, seasonally adjusted.

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