Global Economic News

Australia Construction Work Done Dips 0.2% In Q4

The total value of construction work done in Australia was down a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday - coming in at A$46.263 billion.

That missed forecasts for an increase of 0.5 percent following the upwardly revised 4.4 percent contraction in the third quarter (originally -4.9 percent).

On a yearly basis, construction work was down 7.8 percent.

The value of engineering work done was down 2.2 percent on quarter and 18.6 percent on year to A$19.568 billion.

by RTTNews Staff Writer

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