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Financial News: Australia Q4 Construction Work Sinks 3.1% On Quarter

Australia Q4 Construction Work Sinks 3.1% On Quarter

02/26/2019 - 19:45:00 (RTTNews)

(RTTNews) - The value of construction work completed in Australia was down a seasonally adjusted 3.1 percent on quarter in the fourth quarter of 2018, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.092 billion.

That missed forecasts for an increase of 0.5 percent following the 2.8 percent decline in the three months prior.

The seasonally adjusted estimate of total building work done fell 1.7 percent to A$29.599 billion in the December quarter, while the estimate for engineering work done dropped 5.0 percent to A$21.492 billion.

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