none

Construction down again in February

07-03-2012
by 
in 
Construction down in February

The national construction industry has contracted for the 21st consecutive month, according to latest industry data.

The Australian Industry Group Australian Performance of Construction Index (Australian PCI) in conjunction with the Housing Industry Association was 4.2 points weaker at 35.6 in the month (readings below 50 indicate a contraction in activity).

The weakness in activity was spread across the sub-sectors. Commercial construction was particularly subdued amid a scaling back in public building work while house building declined at a more pronounced rate than the previous month. 

Also, new orders on aggregate continued to decline with the sub-index falling 1.7 points to 34.2. 

Australian Industry Group Director Public Policy, Peter Burn, said: "The difficulties for the construction industry continued in February with declines in activity in each of the four sub-sectors. The tentative signs of recovery that had emerged in the closing months of 2011 as interest rates were lowered, appear to have dissipated since the start of this year.  With new orders also weak in February and with market interest rates now somewhat higher, the outlook for the next few months remains flat particularly for commercial and residential construction," Dr Burn said.

Related news & editorials

  1. 18.05.2018
    18.05.2018
    by      In
    The latest edition of the Methods technology and solutions e-zine from Mouser Electronics focuses on digital twinning, the latest concept for design and maintenance in Industry 4.0.
    Starting with a forward from digital twinning expert Dr Michael Grieves, Executive Director of the US Center for... Read More
  2. 17.05.2018
    17.05.2018
    by      In
    The Federal Government has released an expanded overview of its 12-year national research infrastructure investment plan, marking the “next step of the innovation and science agenda”.
    The plan, prepared jointly by Education and Industry departments, will “provide Australian researchers with access... Read More
  3. 17.05.2018
    17.05.2018
    by      In
    Victoria’s Marand has grown its customer base, securing a partnership with Rolls-Royce for construction of the MT30 gas turbine for the SEA 5000 Future Frigate project.
    Under the agreement, Marand will work with Rolls-Royce on design development, manufacture and integration of the specialised... Read More
  4. 17.05.2018
    17.05.2018
    by      In
    Pushed in part by rising energy prices, almost half of all Australian businesses are moving towards renewable energy generation, according to a new report by the Climate Council which details the increased speed of our business-led transition to renewables.
    This statistic includes those who are... Read More