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Financial News: Australia's Construction Growth Eases In April: AiG

Australia's Construction Growth Eases In April: AiG

05/06/2018 - 23:57:00 (RTTNews)

(RTTNews) - The construction sector in Australia continued to expand strongly in April, though the rate of growth eased since March, the latest survey from the Australian Industry Group showed on Monday.

The Performance of Construction Index dropped to 55.4 in April from 57.2 in March. However, any reading above 50 indicates expansion in the sector.

Commercial construction was again the strongest performing sub-sector in April, with its rate of growth only mildly slower than March's twelve-and-a-half year high.

Both activity and new orders increased at slower rates in April, while employment marked a full year of expansion with its highest pace of growth in 31/2 years.

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