Australian data: Q1 Construction work completed -2.9% q/q vs. +0.5% expected

Q1 Construction work completed -2.9% q/q

• +0.5% expected, +0.7% prior

Residential building -1.2% q/q

• Non-residential -7%
• Engineering -2.1%

The focus is on the Australian inflation data, but this is a very poor reading.