Small Business
< 1 min

Construction industry shows August expansion

Crane and building construction site against blue sky

After declining or remaining stable for 9 months, Australia’s construction industry expanded during the month of August. The Australian Performance of Construction Index (Australian PCI) increased by 6.7 points to 53.8. Readings above 50 indicate an expansion in activity.

The expansion has been driven by improvements in the new orders and activity sub-indexes, as well as a growth in employment.

While apartment building was the strongest performer in the construction sector at 58.7 points, house building and commercial construction also expanded solidly.

Ai Group Head of Policy, Peter Burn, said, “continued strength in the residential sub-sectors and a lift in conditions in commercial construction underwrote the welcome return to expansion in the national construction sector during August. The positive news from these sub-sectors was sufficiently strong to outweigh the entrenched contraction in engineering construction associated with the winding-down in mining-related projects.”

Housing Industry Association Chief Economist, Harley Dale, said, “there is a breadth to the healthier outcomes evident for the August Australian PCI that can be viewed with cautious optimism. The results for both the detached house and apartment sub-sectors reinforce the important contribution that new home construction continues to make to Australia’s economic growth.”

Ai Group apartment building Australian Industry Group Australian PCI Australian Performance of Construction Index Commercial construction construction construction industry Employment employment growth Housing Construction NewsHub
Contributor to the CreditorWatch News Hub
14-Day Free Trial

Get started with CreditorWatch today

Take your credit management to the next level with a 14-day free trial.

You might also like

man standing in a warehouse looking at his stock
Cash FlowFinance

Keeping a lid on rising costs

How to spark creativity for business growth
CreditorWatchSmall Business

How to spark creativity for business growth

Hey, Wait…

Subscribe to our newsletter

You’ll never miss our latest news, webinars, podcasts, etc. Our newsletter is sent out regularly, so don’t miss out.