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Australian Housing Starts Up 9.4% In Q3

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The total number of housing starts in Australia jumped a seasonally adjusted 9.4 percent in the third quarter of 2009 compared to the previous three months, the Australian Bureau of Statistics said on Tuesday.

That easily beat analyst expectations for a 6 percent quarterly surge following the revised 1.9 percent decline in the second quarter.

The seasonally adjusted estimate for new private sector house commencements rose 8.1 percent in the September quarter following a rise of 5.1 percent in the June quarter.

The seasonally adjusted estimate for new private sector other residential building rose 9.0 percent in the September quarter following a revised fall of 20.2 percent in the June quarter.

(Market News Provided by RTTNews)

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