The ABS has released data on the value of construction work done for the December quarter of 2015, which registered a seasonally-adjusted 3.6% slump in total construction activity over the quarter and a 4.3% decline over the year.
The result missed analysts expectations of a 2.0% fall in construction activity over the quarter. Westpac believes the result will subtract around 0.4% off Q4 GDP, a bigger hit than anticipated (circa -0.25%).
