From the Australian Bureau of Statistics we get Construction Work Done in the second quarter if 2019.
- at 0130GMT
- expected -1.0% q/q, prior -1.9%
I posted yesterday very briefly on this:
- engineering construction is offsetting, to some extent, the slower pace (falls!) in the residential sector
A bit more preview, this via Westpac:
Construction work has trended lower since mid-2018, declining by $4.0bn, -7.4%. Falls are spread across three segments, namely: public works, -$1.5bn; private infrastructure, -$1.6bn; and housing, -$1.2bn.
- The home building downturn continued in Q2 and has further to run with dwelling approvals sharply down from their highs.
- Public works, while at a high level, have moderated of late reflecting a gap in the investment project pipeline.
- Elsewhere, activity was likely mixed in Q2. The mining investment wind-down is largely behind us, with prospects for an emerging uptrend over coming quarters.
