Australian Investment Blog

Building Approvals for April was down -5.6%, falling the most in ten months. Is this a concern?

I am revisiting the building sector after a month with Australian Building Approvals for May disappointing the market coming in at -5.6% when economists were predicting +2%. As I often joke, economists always say "I would have been right but..." The building stocks basically ignored the data showing how much reliability they have in the data with two stocks closing up and two down. Unfortunately, the clear picture is currently the massive outperformance from the US exposed stocks over the Australian based stocks. Interestingly, I also have the complete range of views across only four stocks in the sector.