FACTORS: Dwelling units approved in Australia fell for the third straight month on fewer approvals for both houses and units. Approvals for houses fell for the first time in four months, but ended the year 2013 year-on-year up 17.8%. Approvals for units dropped for the third straight month but this followed strong gains earlier in the year, including a 36.4% month-on-month rise in September. In terms of states, approvals in New South Wales rose in December but fell in each of the other five states. Data for two other states were not available. TAKEAWAY: The recent weakness in building approvals comes after a clear ... (full story)