Construction work done for the fourth quarter of 2019
- Due at 0030GMT
Australian Q4 info is stale given the Q1 impacts of bushfires (some impact in December though) and coronavirus, but it will give us a heads up of the shape of the economy heading into those twin negatives.
Today: Australia Construction work done for Q4 (an input into the economic growth numbers, due March 4))
- expected -1.0% q/q, prior -0.4%
Comments on what to expect via ANZ:
- Construction work done has fallen by almost 10% since mid-2018, and we expect it fell a further 1.0% in Q4 2019.
- Residential construction is forecast to have continued to slide in Q4, and delays on major infrastructure projects may have limited engineering construction growth, but we think that public non-residential construction rose during the quarter as projects approved through 2019 got underway.
Westpac:
- Construction work weakened from mid-2018 .. the pace of decline appears to be moderating
- potential downside for Q4 - disruptions due to bushfire smoke
- Public works remains at a high level.
- Private infrastructure work may be at a turning point. In mining, a few projects have proceeded of late and the work pipeline has expanded
