The ABS has released data on the value of construction work done for the March quarter of 2015, which registered a seasonally-adjusted 2.4% fall in total construction activity over the quarter and an 8.8% decline over the year. The result disappointed analysts’ expectations of a 1.4% fall over the quarter.
The 2.4% quarterly decline in construction activity was driven by engineering construction (mostly mining-related), which fell by 7.3%. By contrast, building construction rose by 3.3% over the quarter, driven by a 4.8% jump in residential construction and a 1.0% rise in non-residential construction:
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