AiG 'construction PMI' (PCI - Performance of Construction Index) for June,

  • prior was 47.8

Another contractionary reading from the Australian PMIs

Key points from AiG:

  • Construction industry contracted at a steeper rate in June
  • Weaker engineering activity continued to outweigh expansion in the house and apartment building sectors
  • Three-month moving average dropped to 47.1 points
  • Australian PCI has been below the 50 point level that separates expansion from contraction in seven of the past eight months
  • Continued contractions in activity, new orders, employment and deliveries from suppliers
  • Apartment building was the strongest performing sector in June
  • Engineering construction contracted for a 12th consecutive month (weaker mining-related projects and major infrastructure construction activity nationally)
  • Commercial construction activity remained in negative territory