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Financial News: Australia Construction Index Eases From Record High -

Australia Construction Index Eases From Record High - AiG

05/04/2021 - 21:10:00 (RTTNews)

(RTTNews) - The construction sector in Australia continued to expand in April, albeit at a slower pace, the latest survey from the Australian Industry Group showed on Wednesday with a seasonally adjusted Performance of Construction Index score of 59.1.

That's down from the record-high 61.8 in March, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

All four components of activity expanded strongly in April 2021. The activity index jumped 5.1 points to a record high of 62.8 points, as home builders nationwide scrambled to commence new projects ahead of the HomeBuilder grant deadlines.

The indexes for new orders, employment and supplier deliveries all eased from their record highs in March but remained elevated. Capacity utilization inched up again, with many home builders reporting shortages of skilled labor, materials and inputs. The selling prices index hit a new record high, as more builders passed on the cost of input price increases and delivery delays to their customers.

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