The Australian Bureau of Statistics released its building permits data on Monday. Building permits in Australia climbed 3.1% in February, exceeding expectations for a 2.0% gain, after a 6.6% drop in January. January's figure was revised up from a 7.5% decrease.

Building permits for private sector houses declined 0.9% in February, while building permits for private sector dwellings excluding houses decreased 0.4%.

The seasonally adjusted estimate of the value of total building approved was down 0.8% in February.

On a yearly basis, building permits fell 9.0% in February, after a 14.5% decrease in January. January's figure was revised up from a 15.5% drop.