A weaker commercial and apartment building sector has offset an improvement in housing activity.
The Australian Industry Group – Housing Industry Association Performance of Construction Index fell 3.2 points to 47.9 points, following modest growth over the previous two months.
The decline in the monthreflected weaker commercial and apartment building activity, and slower growth in engineering construction. This outweighed an improvement in the house building sector, which expanded for the first time since September 2006.
Ai Group’s associate director of Economic and Research Tony Pensabene said while the improvement in house building activity is encouraging, it largely reflects new business generated by house builders in the previous month.
Australian Property Journal
