Global Economic News

Australia Construction Work Falls 4.9% In Q3

The total value of construction work done in Australia declined a seasonally adjusted 4.9 percent on quarter in the third quarter of 2016, the Australian Bureau of Statistics said on Wednesday - standing at A$46.147 billion.

That follows the 3.7 percent decline in the previous three months.

On a yearly basis, the value of construction work tumbled 11.1 percent.

The value of building work was down 5.7 percent on quarter and up 1.4 percent on year to A$25.886 billion.

The value of residential construction was down 3.1 percent on quarter and up 6.3 percent on year to A$17.597 billion.

The value of non-residential construction was down 10.9 percent on quarter and 7.6 percent on year to A$8.288 billion.

The value of engineering construction skidded 3.8 percent on quarter and 23.2 percent on year to A$20.261 billion.

By region, construction work was up in Tasmania, the Australian Capital Territory, New South Wales and Queensland.

Work was down in Victoria, Western Australia, South Australia and the Northern Territory.

by RTTNews Staff Writer

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