Housing pulls construction work down in Q1

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By Leith van Onselen

The ABS has released data on the value of construction work done for the March quarter of 2017, which registered a seasonally-adjusted 0.7% fall in total construction activity over the quarter and a 7.2% decline over the year:

The 0.7% quarterly fall in construction activity was driven by building construction (mostly housing-related), which fell by 2.8% in real terms. By contrast, engineering construction rose by 2.2% over the quarter:

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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.