Financial News: Australia Construction Work Done Rises 0.1% In Q2

Australia Construction Work Done Rises 0.1% In Q2

08/27/2024 - 21:45:00 (RTTNews)

(RTTNews) - The value of total construction work done in Australia was up a seasonally adjusted0.1 percent on quarter in the second quarter of 2024, the Australian Bureau of Statistics said on Wednesday - standing at A$64.932 billion.

That missed expectations for a gain of 0.8 percent following the 2.9 percent contraction in the three months prior.

On a yearly basis, overall construction work rose 1.5 percent.

Individually, building work was down 0.9 percent on quarter and 1.7 percent on year, while residential fell 0.9 percent on quarter and 3.7 percent on year, non-residential sank 0.9 percent on quarter but gained 1.2 percent on year, and engineering work was flat on quarter and up 5.1 percent on year.

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