Building approvals down 26% Nov

[Dow Jones] Weak Australia building approvals confirm long-awaited
softening in housing sector starting to come through at last, says AMP senior
economist Simon Doyle; expects housing to soften further over 2003, contributing
to moderation of Australia economic growth. Combined with other recent weak
domestic data, means RBA to keep rates on hold for “foreseeable future.” (RBT)