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Financial News: Australia Construction Sector Slows In May - AiG

Australia Construction Sector Slows In May - AiG

06/02/2021 - 20:21:00 (RTTNews)

(RTTNews) - The construction sector in Australia continued to expand in May, albeit at a slightly slower pace, the latest survey from the Australian Industry Group showed on Thursday with a seasonally adjusted Performance of Construction Index score of 58.3.

That's down from 59.1 in April, 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 May, with the index for employment hitting a new record high. The indexes for activity and new orders moved lower but remain elevated, as builders nationwide scrambled to fill orders and commence new residential construction projects ahead of HomeBuilder grant deadlines. Capacity utilization inched back towards its recent high at 82.5 percent of capacity in use in May.

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06/18/2021 - 09:10 AM (RTTNews)
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