Global Economic News

Australia Construction Work Slides 3.6% In Q3

The total value of construction work done in Australia tumbled a seasonally adjusted 3.6 percent on quarter in the third quarter of 2015, the Australian Bureau of Statistics said on Wednesday - coming in at A$49.040 billion.

That missed forecasts for a decline of 2.0 percent following the 1.6 percent increase in the second quarter.

The seasonally adjusted estimate for engineering work completed slipped 7.3 percent to A$24.884 billion in Q3.

On a yearly basis, construction work was down 3.7 percent.

by RTTNews Staff Writer

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