Building Approvals m/m

MeasuresChange in the number of new building approvals issued;
Usual Effect'Actual' greater than 'Forecast' is good for currency;
FrequencyReleased monthly, about 30 days after the month ends;
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Why Traders
It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder;