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Financial News: Australia Construction Sector Plummets In April - AiG

Australia Construction Sector Plummets In April - AiG

05/04/2020 - 20:20:00 (RTTNews)

(RTTNews) - The construction sector in Australia continued to contract in April, and at a much steeper pace due to the Covid-19 pandemic, the latest survey from the Australian Industry Group revealed on Tuesday with a Performance of Construction Index score of 21.6.

That's down sharply from 37.9 in March and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Activity, new orders, employment and average wages all fell to their lowest levels on record for the Australian PCI. Capacity utilized across the construction industry fell to a 12-year low. Supplier deliveries fell to their lowest since 2012.

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