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The ABS has released data on the value of construction work done for the June quarter of 2019, which registered another 3.8% seasonally-adjusted decline in total construction activity over the quarter and a 11.1% decrease over the year:
The result badly missed analysts’ expectations of a 1.0% decline in construction activity over the quarter.
The 3.8% quarterly decline in construction activity was broad-based, with both building construction (-5.7%) and engineering construction (-1.1%) falling in real terms:
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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.
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