Australian housing starts rise less than expected
Investing.com
Published Jun 16, 2010 03:15AM ET
In a report, the Australian Bureau of Statistics said the seasonally adjusted number of new residential buildings on which construction was began grew only 4.3% in the first quarter, down from 16.8% in the preceding quarter, whose figure was revised up from 15.1%.
Analysts had expected a figure of 7.1% in the first quarter.
Following the release of the data, the Aussie was down against the U.S. dollar, with AUD/USD shedding 0.1% to hit 0.8645.
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Written By: Investing.com
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