none
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. 15.02.2018
    15.02.2018
    by      In
    Australia's deserts will soon hold hundreds of radio dishes, forming part of a global radio telescope designed to listen for signals from the start of the universe: The Square Kilometre Array (SKA). 
    When completed, the ambitious project will be the world's single largest piece of astronomical... Read More
  2. Newcastle solar farm
    15.02.2018
    15.02.2018
    by      In
    Newcastle City Council has signed a contract for the design, construction, operation and maintenance of a 5MW solar photovoltaic project as part of its plan to cut its emissions by 30% by 2020.
    The contract has been awarded to a joint venture between Carnegie Clean Energy subsidiary Energy Made... Read More
  3. 15.02.2018
    15.02.2018
    by      In
    Tomcar Australia, subject of a round of 2017 articles that labeled it as "Australia's last automotive manufacturer", has gone into voluntary administration. 
    Citing hostile investors and increasing costs of business, admistrators confirmed the turnover for Tomcar in the 2016-17 financial year was $... Read More
  4. 15.02.2018
    15.02.2018
    by      In
    An innovation hub to help Australian companies make the shift from traditional manufacturing to more advanced, value-added products has opened in Adelaide.
    The concept was first floated in 2016, and since then development has been ongoing, transforming a former car manufacturing plant into a hub... Read More