The ABS has released data on the value of construction work done for the December quarter of 2019, which registered another 3.0% seasonally-adjusted decline in total construction activity over the quarter – the sixth consecutive quarterly decline – and a 7.4% decrease over the year:
The result easily missed analysts’ expectations of a 1.0% decline in construction activity over the quarter.
The 3.0% quarterly decline in construction activity was broad-based but driven most by residential construction (-4.6%), whereas non residential construction fell by 3.4% and engineering construction by 1.5%:
Advertisement
