Engineering data perched at mining cliff edge

The ABS this morning released engineering construction data for the March quarter of 2014, which revealed a 2.0% seasonally adjusted fall in the value of work done over the quarter, and a reduction in the construction pipeline.

According to the ABS, the total value of engineering construction in real seasonally-adjusted terms fell by 2.0% in the March quarter and was down by 0.8% over the year, with both the private (-1.6%) and public (-3.2%) sectors falling over the quarter (see below chart).

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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.