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Financial News: Australia Construction Index Slips To 55.3 In August

Australia Construction Index Slips To 55.3 In August - AiG

09/06/2017 - 19:46:00 (RTTNews)

(RTTNews) - The construction sector in Australia continued to expand in August, although at a slower pace, the latest survey from the Australian Industry Group showed on Thursday with a Performance of Construction Index score of 55.3.

That's down from 60.5 in July, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Engineering construction activity expanded strongly and at a rate that was broadly unchanged from the previous month. Continued strength was also evident in the house building sector.

There was stabilization in commercial construction activity in August while apartment building returned to negative territory after a mild upturn in July.

For the construction industry as a whole, both activity and new orders continued to expand at relatively high rates in August.

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