Value of Australian construction activity declines by 1.5%

The Australian Bureau of Statistics has released preliminary statistics for the value of construction work done in Australia in the quarter ended 30 June 2014.

Total construction work

The trend estimate for completed construction work totalled AUS$51.933 billion during the reporting period. This represents a 1.1% decline compared to the previous quarter (January – March 2014) and a 1.5% fall compared to the same period a year earlier. The seasonally adjusted estimate for total construction work done fell by 1.2% q/q to AUS$51.926 billion in the June quarter.

Building work

The trend estimate for total building work done rose by 2% q/q and 6.5% y/y to AUS$22.156 billion. The estimate for non-residential building work fell by 0.2% q/q but increased by 1.6% y/y to AUS$8.778 billion. Residential building work rose by 3.6% q/q and by 9.9% y/y to AUS$13.379 billion. Meanwhile, the seasonally adjusted estimate of total building work done increased by 1.5% q/q to AUS$22.2 billion in the June quarter.

Engineering work

The trend estimate for engineering work done fell by 3.1% q/q and by 6.5% y/y to AUS$29.839 billion in the June quarter, while the seasonally adjusted estimate for engineering work done fell by 3.1% q/q and by 5.6% y/y to AUS$29.725 billion during the period.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/27082014/value-of-australian-construction-activity-declines-by-1-5-percent-358/