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Financial News: Australia Construction Sector Picks Up Steam In March

Australia Construction Sector Picks Up Steam In March - AiG

04/06/2021 - 21:56:00 (RTTNews)

(RTTNews) - The construction sector in Australia continued to expand in March, and at a faster rate, the latest survey from the Australian Industry Group showed on Wednesday with a seasonally adjusted Performance of Construction Index score of 61.8.

That's up from 57.4 in February and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The indexes for new orders, employment and supplier deliveries all hit record highs, as house builders nationwide scrambled to commence residential projects as soon as possible in order to meet the final Home Builder deadline. Capacity utilization surged up to 81.3 percent in March, towards its recent high in December.

Residential builders continued to report high levels of customer inquiries, orders and requests to 'commence as soon as possible' through March. Conditions were positive but slower in apartment building, commercial building and engineering construction.

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