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Financial News: Australia Construction Work Done Slides 3.0% On Quarter

Australia Construction Work Done Slides 3.0% On Quarter In Q4

02/25/2020 - 19:50:00 (RTTNews)

(RTTNews) - The total value of construction work done in Australia was down a seasonally adjusted 3.0 percent on quarter in the fourth quarter of 2019, the Australian Bureau of Statistics said on Wednesday - coming in at A$49.773 billion.

That missed forecasts for a decline of 1.0 percent following the 0.4 percent decline in the three months prior.

The seasonally adjusted estimate of total building work done fell 4.1 percent to A$28.937 billion in the December quarter, while the estimate for engineering work done fell 1.5 percent to A$20.835 billion in Q4.

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