Construction work done solid

The ABS June quarter Construction Work Done figures are out and show a decent quarter at a 0.2% fall, below consensus of a 0.5% rise. Offsetting the miss was a large upwards revision to the March quarter from 5.5%% to 7.8%. The dollar fell about 20 pips on the release.

JUNE KEY FIGURES 

		Jun qtr 12	Mar qtr 12 to Jun qtr 12	Jun qtr 11 to Jun qtr 12
		$m	% change	% change
TREND ESTIMATES(a)
Value of work done
	Building	18 531.0	-2.0	-5.8
	Residential	10 732.8	-2.0	-7.8
	Non-residential	7 808.7	-1.9	-2.8
	Engineering	30 272.8	3.8	26.1
	Total construction	48 877.6	1.7	11.9
SEASONALLY ADJUSTED ESTIMATES(a)
Value of work done
	Building	18 518.5	-1.9	-5.2
	Residential	10 687.2	-2.4	-7.9
	Non-residential	7 831.3	-1.2	-1.2
	Engineering	30 315.1	0.9	31.4
	Total construction	48 833.6	-0.2	14.6
(a) Chain volume measures, reference year 2009-10

Value of construction work done, Chain volume measures– Trend estimates

Value of building work done, Chain volume measures –Trend estimates

JUNE KEY POINTS

VALUE OF WORK DONE, CHAIN VOLUME MEASURES

TOTAL CONSTRUCTION

• The trend estimate for total construction work done rose 1.7% in the June quarter 2012.
• The seasonally adjusted estimate for total construction work done fell 0.2%, to $48,833.6m in the June quarter.

BUILDING WORK DONE

• The trend estimate for total building work done fell 2.0% in the June quarter.
• The trend estimate for non-residential building work done fell 1.9% in the June quarter.
• The seasonally adjusted estimate of total building work done fell 1.9%, to $18,518.5m, in the June quarter

ENGINEERING WORK DONE

• The trend estimate for engineering work done rose 3.8% in the June quarter.
• The seasonally adjusted estimate for engineering work done rose 0.9%, to $30,315.1m, in the June quarter.