Residential construction activity continues to fall

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By Leith van Onselen

The ABS has released data on the value of construction work done for the December quarter of 2017, which registered a big seasonally-adjusted 19.4% fall in total construction activity over the quarter but a 4.6% rise over the year:

The 19.4% quarterly fall in construction activity was driven by engineering construction, which tanked by 35.4% in real terms. By contrast, building construction rose by 0.2% 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.