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The ABS has released data on the value of construction work done for the September quarter of 2020, which registered another 2.6% seasonally-adjusted decline in total construction activity over the quarter – the ninth consecutive quarterly decline – and a 4.2% decrease over the year:
However, the result disappointed analysts’ expectations of a 2.0% decline in construction activity over the quarter.
The 2.6% quarterly decline in construction activity was broad-based, with both building (-2.0%) and engineering (-3.3%) falling:
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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.