- prior was -0.3%
Another sign of ‘transition’ from mining investment to toehr sectors? If so, the RBA will be pleased with this result indeed (well, more so than if it had gone the other way)
From the AUSTRALIAN BUREAU OF STATISTICS release:
TOTAL CONSTRUCTION
- The trend estimate for total construction work done rose 0.8% in the September quarter 2013.
- The seasonally adjusted estimate for total construction work done rose 2.7%, to $53,426.6m in the September quarter.
BUILDING WORK DONE
- The trend estimate for total building work done rose 0.6% in the September quarter.
- The trend estimate for non-residential building work done rose 1.5% in the September quarter.
- The seasonally adjusted estimate of total building work done rose 1.5%, to $20,959.3m in the September quarter.
ENGINEERING WORK DONE
- The trend estimate for engineering work done rose 0.9% in the September quarter.
- The seasonally adjusted estimate for engineering work done rose 3.5%, to $32,467.3m in the September quarter.
Hmm … take a look at that ‘residential building’ line on the right …. that’s not a positive at all. Maybe not a sign of ‘transition’ at all? Looks like much of the work was engineering construction, which includes mines, roads, bridges and the like …
