Housing bust drives fall in Q2 construction activity

Wednesday 31 August 2022

The Australian Bureau of Statistics (ABS) has released construction activity data for the June quarter, which shows that work done fell 3.8% over the quarter to be down 4.3% year-on-year:

As shown above, all components fell over the June quarter, with residential construction falling hardest (-6.8%). Residential construction also fell hardest year-on-year (-7.6%):

The next table shows that construction declines occurred across all states & territories other than NT and the ACT:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.