The Australian Bureau of Statistics released its building permits data on Tuesday. Building permits in Australia jumped 4.2% in July, exceeding expectations for a 2.5% gain, after a 5.2% drop in June. June's figure was revised up from a 8.2% decline.
On a yearly basis, building permits climbed 13.4% in July, after a 8.6% increase in June.
The seasonally adjusted estimate of the value of total building approved was up 7.8% in July, after a 2.9% decrease in the previous month.