Australian building approvals slumped to -7.9% during May which compared with the pervious decline by 1.3% that revised to 8.6%, while the actual reading came lower than market's forecasts that predicted of -0.5%.

Moreover, annualized building approvals retreated to -14.4% in May, from a -11.5% last year, revised to -12.3%, where the anticipations estimated of -5.6%.