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The Australian Bureau of Statistics (ABS) has today released data on quarterly construction materials volumes, which posted modest increases in cement, clay bricks, and pre-mixed concrete, but ongoing weakness in the production of concrete blocks, plaster board, and roof tiles.
The Data is not seasonally-adjusted and highly volatile. Hence it is presented below on a four quarter moving average (4QMA) basis in order to smooth volatility and seasonality:
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When viewed in isolation, the data does not support the notion that there has been a broad-based pick-up in dwelling construction.
unconventionaleconomist@hotmail.com
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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