Building approvals slump
Submitted 4/12/2008
Migration for Business Growth
Monthly building approvals have dropped to a seven-year low with further rate cuts needed to boost demand in a sluggish economy, economists say. Building approvals fell by 5.4 per cent to 10,730 units, seasonally adjusted, in October, the Australian Bureau of Statistics said today. It was the fourth-straight monthly fall and the lowest points since April 2001. -- AAP


