RTTNews | Sep 29, 2021 09:55PM EDT

21:55 Wednesday, September 29, 2021 (RTTNews.com) - The total number of building approvals issued in Australia was up a seasonally adjusted 6.8 percent on month in August, the Australian Bureau of Statistics said on Thursday - coming in at 18,716.

That blew away forecasts for a decline of 5.0 percent following the 8.6 percent drop in July.

On a yearly basis, building approvals spiked 31.2 percent.

Private sector house approvals rose 3.5 percent in August, to 12,009, following a 5.5 percent fall in July. Private sector dwellings excluding houses rose 13.7 percent in August.

The value of non-residential building approved rose 43.8 percent.

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