logo
Share SHARE
FONT-SIZE Plus   Neg

Australia Construction Remains In Contraction In March - AIG

Activity in Australia's construction sector picked up slightly in March but remained in sharp contraction, according to survey results published Tuesday by the Australian Industry Group.

AIG's Performance of Construction index for March was 36.2, an increase of 0.6 points from February.

Readings below 50.0 indicate contraction of activity in the sector.

The AIG report said new orders in the sector declined for a 22nd straight month.

"Large parts of the national construction industry remained stuck in the doldrums," said AIG Public Policy Director Peter Burn. "Very weak conditions continue in the house and apartment building and commercial construction sectors."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had... Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled.
comments powered by Disqus
Follow RTT