Due at 0130GMT
- expected +1.3% q/q
- prior -19.4% q/q
The 'work done' data feeds into the GDP number (via dwelling investment & engineering).
Recent quarters have been impacted by LNG platform imports and have thus been lumopy and volatile. For today, expectations are for the Q1 result to show an increase in residential investment and a small uptick for engineering related investment
Previews, this via Westpac:
- Recently, the Construction Work survey has been impacted by imported LNG platforms. The survey includes their full value when imported, rather than actual work in the period, as in the national accounts.
During 2017:
- 'Construction Work' rose 9.8% in Q2 and climbed a further 16.6% in Q3 (boosted by imports of platforms), then reversed 19.4% in Q4.
For Q1
- we expect a small rise of 0.7%, anticipating no further impact from LNG platforms.
- Upswings in public construction and commercial building are likely positives, as well as housing renovations. Potential negatives are: new home building, with approvals off their peaks; and private infrastructure (with a decline in mining as the final gas projects are completed offsetting a lift in non-mining infrastructure).
via
CBA:
We are expecting a small increase in construction work done in the quarter.
- Non-residential building work should post a healthy increase while residential building work is likely to stay steady at a high level.
- Engineering work looks to have broadly stabilised now the construction of the major LNG plants is almost complete.
