Earlier in the week we had the manufacturing and then the services PMIs, both of which improved on the month.

From today's PCI (Australian Industry Group Performance of Construction Index) report:

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TL/DR?

  • Still in contraction
  • All sub-indexes still in contraction
  • Apartment building sector performed best, strongest since August 2014
  • Engineering construction in contraction for the 13th consecutive month
  • Commercial construction in contraction

This report is a lower-tier data point with little immediate impact on FX