Australia has been building more new homes, offices and shopping centres than previously thought, according to revised data from the government, a promising sign that a key area of the economy is on the path to recovery.
The new figures would be welcomed by the Reserve Bank of Australia (RBA) which has been counting on a revival in home building to help offset the drag from a cooling mining boom.
The Australian Bureau of Statistics on Wednesday reported it had revised figures on home building work, dwelling starts and non-residential building going back for some years. The revisions were overwhelmingly higher.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.