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Australia Construction Work Sinks 2.8% In Q3

The total value of construction work done in Australia was down a seasonally adjusted 2.8 percent on quarter in the third quarter of 2018, the Australian Bureau of Statistics said on Wednesday - coming in at A$53.143 billion.

That missed expectations for an increase of 1.0 percent following the 1.6 percent gain in the three months prior.

On a yearly basis, total construction work tumbled 16.9 percent.

Building work was down 1.5 percent on quarter and up 4.3 percent on year, while residential work was down 1.0 percent on quarter and up 5.4 percent on year. Non-residential work was down 2.4 percent on quarter and up 2.3 percent on year and engineering work was down 4.5 percent on quarter and 34.4 percent on year.

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