Daily Commentary BY THE CURVE TEAM –

Daily Insights – Housing Approvals & Trade Balance

3 December, 2021

Housing Approvals

  • Were down 2.5% for October.
  • Owner occupied loans were down 4.1% compared to September.
  • Investors on the other hand were up 1.1%.
  • They are 15.1% higher than last year and are expected to pick up for November to December as lockdowns are/were unwound.

Trade Surplus Narrows

  • October’s trade surplus was $11.2 billion, down from a revised $11.8 billion.
  • Exports were down 3.3% and imports down 2.7%.
  • The decline in iron prices drove the falls in exports.
  • Increases in coal and gas prices could not offset these falls.

Josh Stewart

Associate - Money Markets