Building activity updateThursday 5 Apr 2012 US building activity: US building activity looks to be in much better shape than a year ago, with approvals up 34% year-on-year and up 5% in February on the previous month. Housing approvals in the US have been increasing now for five months in a row, signaling some improvements in the economy.Australian building activity: Building activity in Australia was down year-on-year in January, although up slightly on the previous month. Despite the perceived strong Australian economy housing approvals have been steadily dropping for a number of months. New Zealand building activity: New Zealand’s building activity is up on year ago figures by 12% but back on the previous month in January. Japanese building activity: Japanese wooden building activity remains sluggish, back 2% on a year ago in January and down 14% on a month earlier. Japanese wooden building activity is measured in area, square metres. Source: NZX Agrifax, www.nzxagri.com/agrifax |
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