Pace of building slows

Building plans passed in November 2006 fell by 11.6 percent year-on-year (y/y) from a 3.6 percent decline in October, Statistics South Africa reported.

Non-residential building plans passed were reported to have fallen to -27.3 percent versus the -8.8 percent decline in residential building plans passed.

In contrast, October non-residential plans were previously reported to have surged 49 percent, while residential activity declined 9.6 percent.

These data, however, are notoriously volatile and are unlikely to influence monetary policy. - I-Net Bridge

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