Value of construction work tanked in Q3

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By Leith van Onselen

The ABS has released data on the value of construction work done for the September quarter of 2016, which registered a seasonally-adjusted 4.9% fall in total construction activity over the quarter and a 11.1% decline over the year.

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The 4.9% quarterly fall in construction activity was broad-based with engineering construction (mostly mining-related) falling by 3.8% in real terms, whereas building construction fell by 5.7% over the quarter, with residential construction falling 3.1% and non-residential construction falling 10.9% (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.