Financial News: Australia Construction Work Climbs 0.5% In Q4

Australia Construction Work Climbs 0.5% In Q4

02/25/2025 - 19:38:00 (RTTNews)

(RTTNews) - The value of total construction work done in Australia was up a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Wednesday - coming in at A$73.936 billion.

That was shy of expectations for an increase of 1.0 percent and down from 1.6 percent in the three months prior.

On a yearly basis, construction work was up 1.8 percent.

Individually, building construction was down 0.7 percent both on quarter and on year, at A$38.297 billion. Residential construction was up 0.9 percent on quarter and 5.7 percent on year at A$23.721 billion. Non-residential construction sank 3.1 percent on quarter and 9.6 percent on year at A$14.576 billion. Engineering construction added 1.8 percent on quarter and 4.6 percent on year at A$35.639 billion.

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