May 2013 Dwelling Approvals up

The Australian Bureau of Statistics (ABS) reports, via media release, that the number of dwelling approvals (a key indicator of future building sector activity) increased by 1.0 per cent during May 2013. Dwelling approvals increased in all southern states and the ACT but decreased slightly in NT and Queensland. The building sector is very significant market for wood products, and a key indicator of economic health in Australia. This positive result if sustained over a period of time coupled with continuing low interest rates, the current low exchange rate and pent-up demand in the building sector should provide an increasing market for wood products.
This is good news after after a very difficult few years. Lets hope it continues