Australia: Recap on the big miss in Q4 Construction Work Done

• The value of construction activity in Australia fell 0.1% in Q4 2012 from Q3 (Q3 was up 1.7% & the median expectation among economists this time was for a 1.5% rise)
• The value of building work completed in Australia rose 1.8%
• The value of residential construction rose 1.7%
• Engineering construction (mines, roads, bridges etc.) value fell 1.3%.

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The Australian

Engineering construction down in Dec qtr

Australian Construction Value -0.1% in 4Q Vs 3Q